A short-term reversal move can be expected due to profit booking. The market has also peaked and there is a chance for the crude price to increase in the coming weeks. This can also affect the stock price adversely.
bro...analyse again higher crude price will benefit the ongc,gail,iol and hence stock will go up if you are expecting crude price increase
Sniper-Traders
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@THE_FNO_EXPERTS, More than the fundamentals, I consider the technicals. And moreover, I do have positions planned for both scenarios. But still, I do believe that increase in crude price will affect the profitability of these stocks since they can't hike the price of the fuel at the same rate. The upcoming election in 2023 as well as the need to control the recession will be an issue for the government and hence the oil companies won't be allowed to hike the price at the same rate. This will affect their profitability.
higher crude price will benefit the ongc,gail,iol and hence stock will go up if you are expecting crude price increase