‹ All Posts
Unite Technologies Financial

12th Jul · SEBI-Registered Analyst

Technical Analysis ONGC Ltd

The stock

ONGC
has witnessed a sharp correction from the ₹305 zone and is now attempting to recover after finding support near ₹230-235. The recent bounce towards ₹245 suggests buyers are returning at lower levels but the stock is still trading below its key resistance zones. A sustained move above ₹250-255 is needed to confirm a trend reversal. Support ₹240-235 is the immediate support zone. If this level breaks the next important support is around ₹228-230. Resistance ₹250-255 is the first resistance. A breakout above this level can push the stock towards ₹265-270 while a move above ₹285 would confirm a stronger bullish trend. The short-term outlook is improving but remains neutral. Existing holders can continue to hold with a stop-loss below ₹235. Fresh buying may be considered only after a decisive close above ₹255 or on dips near the ₹235-240 support zone with proper risk management.

#TechnicalViews#EquityResearch#MacroViews#TimeToExit
1,133 likes·51 comments