ONGC Share Price Resilient Amid US-Iran War-Driven Sell-Off

Key Highlights

• ONGC share price has shed around 3.50% in the last month, outperforming its peers in the oil and energy sector.
• ONGC has reported a net profit of ₹11,946 crore, up 22% YoY, with revenues at ₹1.67 trillion.
• Brent Crude oil prices have risen above $100 per barrel due to disruptions in the Strait of Hormuz.

Resilience in the ONGC Share Price

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ONGC's integrated upstream model has enabled it to capture higher realisations, unlike downstream PSUs that face margin compression due to regulated pricing. The company's strong Q3FY26 financials, including a record dividend payout, have reinforced investor confidence.

Technical Outlook

The ONGC share price is currently forming a bullish flag pattern on the Daily chart, signaling strong upward momentum. The stock has been consistently sustaining above the Fibonacci retracement level from its March low, which lies at ₹258, now acting as a key support zone.

Recommendation

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ONGC shares are a compelling candidate for technically driven investors seeking bullish setups. The stock is currently trading around ₹269, offering an attractive risk-reward ratio. A stop-loss can be comfortably placed at ₹255, while the medium-term upside potential lies between ₹276 and ₹290.