RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ONGC.BO
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Green day on Thursday for Oil and Natural Gas Corporation Limited stock after gaining 2.29%
(Updated on Mar 28, 2024)

Sell candidate since Mar 13, 2024 Gain 5.08% PDF

The Oil and Natural Gas Corporation Limited stock price gained 2.29% on the last trading day (Thursday, 28th Mar 2024), rising from ₹261.85 to ₹267.85. During the last trading day the stock fluctuated 3.44% from a day low at ₹261.90 to a day high of ₹270.90. The price has risen in 6 of the last 10 days and is up by 5.08% over the past 2 weeks. Volume fell on the last day by -40 thousand shares and in total, 652 thousand shares were bought and sold for approximately ₹174.72 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹262.87 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 26.83% during the next 3 months and, with a 90% probability hold a price between ₹333.39 and ₹379.15 at the end of this 3-month period.

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ONGC.BO Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Oil and Natural Gas Corporation Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹268.84. On a fall, the stock will find some support from the short-term average at ₹263.49. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -5.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Oil and Natural Gas Corporation Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹252.85 and ₹249.20. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Oil and Natural Gas Corporation Limited finds support just below today's level at ₹252.85. If this is broken, then the next support from accumulated volume will be at ₹249.20 and ₹233.55.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹9.00 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 2.83%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ONGC.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Oil and Natural Gas Corporation Limited to open at ₹266.88, and during the day (based on 14 day Average True Range), to move between ₹259.17 and ₹276.53, which gives a possible trading interval of +/-₹8.68 (+/-3.24%) up or down from last closing price. If Oil and Natural Gas Corporation Limited takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹268.90 (0.39%) than the support at ₹252.85 (5.60%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Oil and Natural Gas Corporation Limited stock A Buy?

The Oil and Natural Gas Corporation Limited stock holds several negative signals and despite the positive trend, we believe Oil and Natural Gas Corporation Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.567 Sell Candidate Unchanged

Predicted Opening Price for Oil and Natural Gas Corporation Limited of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
₹266.88 ( 0.361%) ₹267.85

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for ONGC.BO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 275.88 3.00 %
R2 272.45 1.72 %
R1 270.32 0.92 %
Current price: 267.85
Support S1 263.45 -1.64 %
S2 261.32 -2.44 %
S3 257.88 -3.72 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 277.10 3.45 %
R2 272.25 1.64 %
R1 268.90 0.392 %
Current price 267.85
Support S1 252.85 -5.60%
S2 249.20 -6.96%
S3 233.55 -12.81%

FAQ

What is the symbol for Oil and Natural Gas Corporation Limited Stock and on which exchange is it traded?
The symbol for Oil and Natural Gas Corporation Limited is ONGC.BO and it is traded on the XBOM (Bombay Stock Exchange).

Should I buy or sell Oil and Natural Gas Corporation Limited Stock?
The Oil and Natural Gas Corporation Limited stock holds several negative signals and despite the positive trend, we believe Oil and Natural Gas Corporation Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

How to buy Oil and Natural Gas Corporation Limited Stock?
Oil and Natural Gas Corporation Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Oil and Natural Gas Corporation Limited Stock.

What's the current price of Oil and Natural Gas Corporation Limited Stock?
As of the end of day on the 2024-03-28, the price of an Oil and Natural Gas Corporation Limited (ONGC.BO) share was ₹267.85.

What is the 52-week high and low for Oil and Natural Gas Corporation Limited Stock?
The 52-week high for Oil and Natural Gas Corporation Limited Stock is ₹284.75 and the 52-week low is ₹146.75.

When is the next earnings date for Oil and Natural Gas Corporation Limited?
The upcoming earnings date for Oil and Natural Gas Corporation Limited is May 24, 2024.
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