ONGC : Is oil Going to burn?

anteontem

Technical View
Box trading strategy in which you identify a stock consolidating for couple of days and trade in the direction of the breakout. In case of ONGC the stock was consolidating for about three days before breaking out earlier today.

PRO TIP
Use the High of the candle as your stop loss and trail it to either protect profits or hold your trade for longer duration.

Target 227Intra-day Target

Fundamentals

Weak Q3FY25 Results:
ONGC's consolidated net profit attributable to owners declined by 19.4% to ₹8,621.69 crore in Q3 FY25, compared to ₹10,703.13 crore in the same period last year. This drop was attributed to lower global crude prices.

The company reported a 6.9% decrease in net profit for the quarter, standing at ₹9,784 crore, down from ₹10,511 crore in the same period last year.

ONGC's gross revenue also showed a slight decline of 0.7%, falling to ₹1.66 trillion in Q3 FY25, compared to ₹1.67 trillion in Q3 FY241. The company's revenue from operations also saw a decline, reaching ₹166,096.68 crore.

Bearish Trend: The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which indicates a bearish trend in its short to long-term performance.

Brokerage Views:
CLSA has cut its FY25 EPS estimate by 5% due to cautious outlooks on the company's production and profitability



Not an investment advice

ontem

Trade ativo

Stoploss at 321 which is our breakeven point
Use swing high to trail stop loss

ontem

Trade fechado: objetivo atingido

Target Hit!!
Great work everyone