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Informist, Friday, Jun. 27, 2025

NEW DELHI – Shares of oil and gas companies, which have broadly outperformed other sectors, have shown good momentum and are being looked at favourably by technical analysts for next week. The Nifty Oil & Gas index is likely to rise more next week, a Mumbai-based technical analyst said.

The Nifty Oil & Gas index rose 1.2% on Friday to 11835.05 points, compared with a 0.4% increase in the Nifty 50. The sectoral index outperformed the benchmark index during the week as well, rising 3.3% compared with a 2.1% increase in the Nifty 50. For next week, the Nifty Oil and Gas index is expected to move in a range between 11550 and 12500 points, the analyst said.

Oil prices gained momentum this week in part due to the easing of geopolitical tensions in West Asia. Crude oil prices have corrected 11% after Iran and Israel agreed to a ceasefire. WTI crude oil futures contract was trading above $65.70 a barrel on Friday and is poised for its most significant weekly decline since March 2023, analysts said. 

Analysts expect Brent crude oil price to average between $65-70 in the current financial year, assuming conflict in West Asia doesn't erupt again. European natural gas futures could register the strongest weekly fall in nearly two years after the two countries agreed to a ceasefire.

Within the oil and gas industry, analysts expect oil marketing companies to post "bumper numbers" for the first quarter.

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Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

US$1 = INR 85.48

Reported by Anand JC

Edited by Saji George Titus

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