June 16, 2025: Oil and Natural Gas Corporation (ONGC), a leading player in the Oil Drilling and Exploration sector, continues to show steady performance with its share price currently trading at ₹256.55 on the BSE. The stock has seen intraday fluctuations today, hitting a low of ₹252.2 and a high of ₹257.2.

Over the past 52 weeks, ONGC shares have ranged between ₹205 and ₹344.6, reflecting both volatility and long-term growth potential. In recent performance metrics, the stock has delivered a 1.91% return in one day, 4.13% over the past month, and an 11.51% gain over the last three months.

Technical Outlook:

ONGC’s daily pivot level stands at 253.18, with resistance levels at ₹254.17 (R1), ₹255.88 (R2), and ₹256.87 (R3). Support levels are positioned at ₹251.47 (S1), ₹250.48 (S2), and ₹248.77 (S3).

Moving averages reveal a balanced short- to mid-term momentum. The 5-day Simple Moving Average (SMA) is 246.79, while the 5-day Exponential Moving Average (EMA) is slightly higher at 247.15. Over 10 days, the SMA is 242.53 and EMA is 244.91, closely followed by 20-day SMA and EMA values around 243.5. The longer-term 200-day SMA of ₹257.5 hints at a resistance zone ahead, with the EMA trailing slightly at ₹250.74.

Sector Comparison:

Within the Oil Drilling and Exploration sector, ONGC competes closely with Oil India Limited, which has demonstrated robust gains in the short term. Oil India has posted a weekly return of 14.23%, a monthly gain of 15.82%, and a 3-month jump of 28.31%. Over longer periods, Oil India’s 3-year and 5-year performances stand impressively at 171.05% and 648.84%, respectively.

ONGC’s mid-term and long-term returns also reflect steady growth, with 3-year returns of 62.14% and a 5-year gain of 200.65%. However, it faces a recent one-year decline of -8.12%, indicating some near-term challenges.

Investor Takeaway:

The technical indicators for ONGC suggest cautious optimism with key resistance levels testing investor sentiment. The sector’s competitive dynamics, especially with Oil India’s strong momentum, will likely influence ONGC’s trajectory in the coming months. Investors are advised to monitor pivot levels and moving averages closely while considering broader oil market trends.