ONGC is showing improving bullish structure on the daily timeframe, with price reclaiming higher levels and trading above the pivot zone of ₹261–₹264, indicating strengthening momentum.

The stock is currently approaching R1 resistance at ₹287–₹289, which is a crucial supply zone. A sustained move above this level may open the path towards R2 at ₹327–₹329.

ONGC’s direct linkage to the oil & energy sector, price action tends to remain sensitive to global commodity movements. In the current environment, strength in crude oil prices can support upward momentum, while volatility may remain elevated.

Resistance:

• ₹287–₹289 (R1)

• ₹327–₹329 (R2)

Support: ₹261–₹264 (Pivot)

Major Support: ₹212–₹215

Outlook:
Structure remains positive above the pivot zone. Sustained breakout above ₹289 will be key for further upside, while failure to hold above ₹261 may lead to consolidation. Investors are advised to monitor price behaviour along with sectoral trends before taking decisions.