Latest news with #OilandNaturalGasCorporationLtd
Mint
10 hours ago
- Business
- Mint
Stock to buy: Maharatna oil PSU ONGC could rise 14% in 1 month, predicts Anand Rathi. Here's why
Stock to buy: Indian brokerage firm Anand Rathi Investment Services has picked Maharatna PSU giant Oil and Natural Gas Corporation Ltd (ONGC) shares as its stock pick for the month of June 2025 with a potential upside of 14 per cent in the upcoming one-month period. The brokerage firm's stock pick report said that ONGC shares have recently broken out of their narrow consolidation range of ₹ 220 to ₹ 252. With the help of support at the base near the 200-day EMA high/low band, the analysts are bullish on the energy sector stock. 'ONGC recently broke out of its narrow consolidation range between 220 and 252, indicating strength. The stock is now trading above this range, supported by a base formation around the 200-day EMA high/low band, reinforcing bullish sentiment,' said the brokerage in its report. On the technical front, the analysts highlighted that the Relative Strength Index (RSI) has moved above the 50 mark, indicating a shift in momentum of the shares. 'The daily RSI has moved above the 50 mark after a prolonged period, signalling a shift in momentum,' they said. Oil and Natural Gas Corporation Ltd (ONGC): Buy at ₹ 255 (or CMP); Target Price at ₹ 290; Stop Loss at ₹ 235. 'Given these technical developments, a long position is advisable in the 257–253 zone, with a target of 290. A daily close below 235 should be used as a stop-loss to manage risk,' said the analysts at Anand Rathi. ONGC shares closed 1.6 per cent lower at ₹ 252.30 after Tuesday's stock market session, compared to ₹ 256.40 at the previous market close. The shares of the Maharatna oil PSU have given stock market investors more than 193 per cent return on investment in the last five years. However, the shares have lost 8.64 per cent in the last one-year period. On a year-to-date (YTD) basis, ONGC shares have gained 6.34 per cent in 2025 and 1.94 per cent in the last five trading sessions. The shares hit their 52-week high level at ₹ 344.60 on 1 August 2024, while the 52-week low level was at ₹ 205 on 7 April 2025, according to the data collected from the BSE website. The oil company's market capitalisation was more than ₹ 3.17 lakh crore as of the stock market close on Tuesday, 17 June 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
2 days ago
- Business
- Mint
ONGC to Swiggy - Vinay Rajani of HDFC Sec suggests these 3 stocks to buy in the near-term
Stock market today: India's stock market benchmarks gained ground following a lackluster opening on Monday, buoyed by increases in IT and financial sectors after experiencing two consecutive sessions of decline due to a worsening conflict between Israel and Iran. As of 12:37 IST, the Nifty 50 increased by 0.85% to reach 24,929 . 20, while the Sensex climbed 0.77% to hit 81,752.79. Following the widespread sell-off in the previous two sessions, the markets seem poised for a short-term rebound; however, geopolitical developments will continue to be a significant factor, according to market analysts. Over the weekend, fresh attacks were exchanged between Israel and Iran, raising concerns about broader instability in the oil-rich area. Crude oil prices rose amid worries about supply disruptions, which poses a risk for India, a nation heavily dependent on oil imports. Vinay Rajani of HDFC Securities recommends Oil and Natural Gas Corporation Ltd (ONGC), Swiggy Ltd, and Macrotech Developers Ltd (Lodha). The Nifty 50 continued its consolidation for the fourth consecutive week, experiencing a weekly fall of 1.14%. The Nifty 50 closed below its 20-day EMA (24,791), with the next key support at the 50-day EMA, currently positioned at 24,386. The index has maintained its level above the swing low of 24,462, indicating a continuation of the consolidation phase within the 24,500 and 25,200 range for the fourth straight week. A notable development during the week was the Nifty 50 finding resistance at the swing high made in October 2024, concluding the week with a bearish 'Dark Cloud Cover' candlestick pattern on the weekly chart. This bearish pattern will be confirmed if the Nifty breaks below the candle's low in the upcoming sessions without breaching the high. A close below 24462 could lead to a further slide towards the unfilled gap of 24378-24164 (formed on May 12, 2025), and a closing below 24,164 would signal a bearish trend reversal positionally. The Bank Nifty has formed a bearish 'Engulfing' pattern on its weekly chart. The negative implication of this pattern will be validated if the index breaks its candle's low of 55,149. Should this occur, the Bank Nifty could slide down to its next support level of 53,500. On the upside, the 56,000-56,200 band is expected to offer resistance. The Midcap100 and Microcap250 indices are still holding their uptrend on positional charts, representing resilience in the broader market. However, they also need to protect their levels aboven last week's lows to sustain their upward momentum. Adding to the cautious sentiment, Brent crude has seen a significant price jump, while the Indian rupee has experienced healthy depreciation against the dollar. The combination of higher crude prices and a weaker rupee could collectively contribute to weak Indian equity market sentiments going forward. In summary, while the broader market indices are holding up, both Nifty and Bank Nifty are showing bearish technical patterns and consolidating within key ranges. Critical support levels need to be defended to prevent a potential bearish trend reversal, and external factors like crude oil prices and currency depreciation could add further pressure. Nifty Strategy : Despite a bullish primary trend, Nifty 50 is currently undergoing short-term consolidation. Traders holding long positions should maintain a stop-loss at 24,462. A breach below this level could lead to a further decline towards 24,164 support, and a sustainable close below 24,164 would positionally reverse the bullish trend. Conversely, a close above 25,000 would negate the possibility of a downtrend. Vinay Rajani of HDFC Securities recommends these three stocks in the near term - Oil and Natural Gas Corporation Ltd (ONGC), Swiggy Ltd, and Macrotech Developers Ltd (Lodha). ONGC share price has broken out from multi-week consolidation with rising volumes. Stock price has taken out multi top resistance of 252 and has been sustaining above it. Stock is placed above all key moving averages, indicating a bullish trend on all time frames. Indicators and oscillators have been showing strength on the daily and weekly time frames. Swiggy share price has surpassed the crucial resistance of 20 DEMA with healthy volumes. Daily RSI has been sustaining above 50, which shows the strength in the stock. Daily MACD has shown positive crossover on signal as well as on equilibrium line. Stock has started forming higher top and higher bottom formation on the daily chart. Stock price has taken out previous swing high resistance. Macrotech Developers share price has broken out from the descending triangle pattern on the weekly chart. Stock is placed above key moving averages, indicating bullish trend on all time frames. Realty sector index has been outperforming for last couple of weeks. Monthly RSI has given bullish crossover, which indicates strength in the stocks. Volumes have risen along with the recent price rise. Stock has been forming higher tops and higher bottoms on the daily. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
