Technical Analysis Oil and Natural Gas Corporation Limited

The stock

is currently exhibiting a strong bullish momentum. After a period of consolidation and a deep correction seen in early 2025 the stock has formed a Rounding Bottom style recovery leading to a breakout. The stock is trading near its recent highs supported by increasing volume in the last few weeks of February. Recently resistance there is immediate resistance at ₹282.50 – ₹285.00. A decisive daily close above ₹285 could trigger a fresh rally toward the ₹310 - ₹325 zone. Recently strong support is visible at ₹273.00. If the stock breaks below this the next major safety net is at ₹265.00. Moving averages the price is trending well above its 50-day and 200-day moving averages confirming that the long-term trend has shifted from bearish to bullish. Geopolitical Impact & News Middle East Tensions: Any escalation in the Middle East typically disrupts supply chains. As seen in early 2026 Brent Crude staying above $70/barrel is highly beneficial for ONGC's profit margins. OPEC+ Policy today's OPEC+ meeting is crucial. If they decide to continue production cuts to support prices amidst global uncertainty, ONGC will likely see further upward movement. Energy security with the ongoing Russia-Ukraine situation and fluctuating global supply India's focus on domestic production (ONGC's core business) makes this stock a strategic play for many institutional investors. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.