Nifty Oil and Gas Prediction for Monday, 10 August 2026: Index Mixed as ONGC Gains 0.44 Percent While BPCL Loses 0.83 Percent on Crude Direction Split
- August 7, 2026
- Posted by: Kunal Singla
- Category: News
Nifty Oil and Gas Fri: Approx. 12,350-12,500 (Mixed (ONGC +0.44%, BPCL -0.83%; Crude -0.28%, Reliance +0.74%)). Range: 12,280-12,520. Nifty IT +1.42%. SBI Q1 NIM 3%. Bajaj Fin -5.84%. VIX 12.16.
The Nifty Oil and Gas prediction for Monday on Monday 10 August 2026 is shaped by Friday’s session where Nifty 50 closed at 24,570.65 (down 65 points, -0.27%), Sensex fell 455 points to 78,499.17 and Bank Nifty lost 317 points to 57,746.45. The session’s defining paradox: SBI Q1 FY27 beat strongly (PAT +10.23%, NIM recovered to exactly 3 percent, GNPA at a two-decade low of 1.47 percent) but Bajaj Finance crashed 5.84 percent and ICICI Bank fell 2.5 percent, dragging the financial sector. The top performers were Nifty Auto (+1.83 percent), Nifty IT (+1.42 percent led by TCS +3.36 percent) and MCX Gold (+1.40 percent) and MCX Silver (+3.19 percent). The Nifty Oil and Gas is the sectoral index for this prediction for Monday. The primary catalyst for the Nifty Oil and Gas prediction for Monday is the US Non-Farm Payrolls for July 2026, released at 6 PM IST today after Indian market close, which will determine Monday’s opening gap direction. Ankit Jaiswal, Senior Research Analyst at Univest, and Kunal Singla, Associate Director at Univest, present the complete Nifty Oil and Gas prediction for Monday.
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Friday’s Data Behind the Nifty Oil and Gas prediction for Monday
| Indicator | Friday 7 Aug Close (Groww Confirmed) | Change |
|---|---|---|
| Nifty 50 | 24,570.65 | -65.35 pts (-0.27%) |
| Sensex | 78,499.17 | -455.59 pts (-0.58%) |
| Bank Nifty | 57,746.45 | -317.20 pts (-0.55%) |
| Nifty Auto | 29,646.95 | +1.83%; top sectoral gainer |
| Nifty IT | 31,547.70 | +1.42%; TCS +3.36%, HCL +1.62%, Infosys +0.87% |
| Nifty PSU Bank | 8,786.20 | +0.65%; SBI +1.12% on Q1 FY27 beat |
| Nifty Metal | 13,189.85 | +0.50%; Hindustan Zinc +2.20% |
| Nifty Private Bank | 27,392.35 | -1.04%; ICICI -2.50%, Axis -1.43% |
| SBI Q1 FY27 | Rs 1,097.20 (+1.12%) | PAT Rs 21,121 cr (+10.23%); NIM 3.0%; GNPA 1.47% (2-decade low). High: Rs 1,124.5 |
| Bajaj Finance | Rs 1,078 (-5.84%) | Biggest Nifty 50 loser; dragged Fin Services sector |
| MCX Gold (Aug Fut) | Rs 1,49,703/10g (+1.40%) | Strong surge; safe-haven demand |
| MCX Silver (Mini Aug) | Rs 2,34,741/kg (+3.19%) | Outperformed gold; industrial + safe-haven combined |
| MCX Crude Oil (Aug) | Rs 7,356/bbl (-0.28%) | Slight dip; Iran deal uncertainty continues |
| India VIX | 12.16 | Unchanged from previous close |
| US NFP (July 2026) | Released 6 PM IST today | Primary weekend catalyst for Monday gap direction |
SBI Q1 FY27 and Bajaj Finance: Two Opposite Forces Behind the Nifty Oil and Gas prediction for Monday
Friday’s session presented two contradictory catalysts for the Nifty Oil and Gas prediction for Monday. SBI delivered its strongest quarterly result in recent memory: PAT up 10.23 percent to Rs 21,121 crore, NIM recovered to exactly 3 percent from Q4 FY26’s 2.93 percent and GNPA fell to 1.47 percent, a two-decade low. SBI surged to Rs 1,124.5 intraday before closing at Rs 1,097.20 (+1.12 percent). Simultaneously, Bajaj Finance crashed 5.84 percent to Rs 1,078, the biggest Nifty 50 loser, dragging the financial services sector. Ankit Jaiswal notes that the Nifty Oil and Gas prediction for Monday is shaped by which of these two forces dominates on Monday: SBI’s confirmed earnings strength or Bajaj Finance’s Q1 result-related concerns spilling into the broader NBFC sector.
Technical Levels for the Nifty Oil and Gas prediction for Monday
| Level Type | Zone |
|---|---|
| Immediate Support | 12,280-12,320 |
| Key Support | 12,080-12,140 |
| Immediate Resistance | 12,520-12,580 |
| Key Resistance | 12,720-12,820 |
Kunal Singla observes that India VIX closed Friday at 12.16, unchanged from Thursday’s close. Stable VIX at 12-13 despite the broader market fall is structurally positive for the Nifty Oil and Gas prediction for Monday: it means option sellers are not panicking and the August monthly series maintains a defined range. The Nifty Oil and Gas prediction for Monday’s support at 12,280-12,320 is the immediate floor heading into Monday.
US NFP: The Nifty Oil and Gas prediction for Monday Primary Weekend Variable
US Non-Farm Payrolls for July 2026 releases at 6 PM IST today. A healthy NFP (175,000-230,000 range) supports a Monday gap-up in this outlook as Dow Jones rises and FII risk-on flows return to India on Monday morning. A weak NFP below 130,000 raises US recession concerns and creates a Monday gap-down in this outlook. Ankit Jaiswal recommends checking GIFT Nifty at 9 AM Monday before making any Nifty Oil and Gas prediction for Monday position decisions.
Key Factors for the Nifty Oil and Gas prediction for Monday
- MCX Crude at Rs 7,356 (-0.28 percent Friday) creates the Nifty Oil and Gas prediction for Monday’s defining split: ONGC (+0.44 percent) benefits from stable crude through Q2 FY27 realization, while BPCL (-0.83 percent) faces mild pressure from crude still at Rs 7,356 versus the sub-Rs 7,000 level where GRM improvement would be fully priced.
- Reliance Industries at Rs 1,334.80 (+0.74 percent Friday) is the Nifty Oil and Gas prediction for Monday’s strongest constituent, benefiting from three independent tailwinds: Jio ARPU re-rating (from Airtel’s Rs 261 ARPU), O2C feedstock improvement and Reliance Retail expansion.
- Iran deal overnight is the Nifty Oil and Gas prediction for Monday’s primary binary risk: deal confirmed = Brent to 70-75 US dollars (BPCL strongly positive, ONGC realization risk), deal collapse = crude above Rs 8,000 (ONGC strongly positive, BPCL refining margin compression).
- US NFP at 6 PM IST today affects crude through US demand expectations: strong NFP supports crude demand and is marginally positive for ONGC in this outlook.
Stocks to Watch for the Nifty Oil and Gas prediction for Monday
Univest analysts flag the following stocks for educational observation in this outlook on Monday. These are not buy or sell recommendations.
ONGC: CMP Rs 238.85 (+0.44% Fri). Ankit Jaiswal flags entry Rs 236-238, target Rs 247, SL Rs 228. ONGC is the upstream realization expression in this outlook. MCX Crude at Rs 7,356 supports Q2 FY27 realization.
Reliance Industries: CMP Rs 1,334.80 (+0.74% Fri). Kunal Singla flags entry Rs 1,320-1,330, target Rs 1,360, SL Rs 1,298. Reliance is the Nifty Oil and Gas prediction for Monday’s highest-conviction stock from its three independent catalysts: Jio, O2C and Retail.
BPCL: CMP Rs 321 (-0.83% Fri). Ankit Jaiswal flags entry Rs 315-320, target Rs 335, SL Rs 306. BPCL at Rs 321 (-0.83 percent Friday) is the Iran deal call option in this outlook: deal confirmed = BPCL strongly bullish from GRM expansion.
Screen All Stocks for the Nifty Oil and Gas prediction for Monday on Univest
Trading Strategy for the Nifty Oil and Gas prediction for Monday
- 12,280-12,320 is the support for the Nifty Oil and Gas prediction for Monday.
- 12,520-12,580 is the first resistance in this outlook.
- Monitor Iran news overnight. Deal confirmed = BPCL strongly bullish, ONGC negative in this outlook.
- Reliance Industries above Rs 1,340 Monday confirms the Nifty Oil and Gas prediction for Monday bull case from the strongest constituent.
Risks to the Nifty Oil and Gas prediction for Monday
- Iran deal confirmed before Monday open creating a large composition split in the Nifty Oil and Gas prediction for Monday (BPCL sharply up, ONGC sharply down).
- OPEC+ production cut reversing crude lower and creating a different composition split in the Nifty Oil and Gas prediction for Monday.
- Weak NFP reducing US crude demand expectations and pressing ONGC realization outlook in the Nifty Oil and Gas prediction for Monday.
Conclusion
The Nifty Oil and Gas prediction for Monday on Monday 10 August 2026 is built on Friday’s close of Approx. 12,350-12,500 (Mixed (ONGC +0.44%, BPCL -0.83%; Crude -0.28%, Reliance +0.74%)), from a session where Nifty Auto (+1.83 percent), Nifty IT (+1.42 percent) and MCX precious metals (Gold +1.40 percent, Silver +3.19 percent) were the week’s bright spots while Bajaj Finance (-5.84 percent) and ICICI Bank (-2.5 percent) created financial sector drag. Ankit Jaiswal of Univest identifies 12,520-12,580 as the primary resistance and 12,280-12,320 as the critical support for the Nifty Oil and Gas prediction for Monday. The US NFP at 6 PM IST today is the primary variable: monitor GIFT Nifty Sunday evening and at 9 AM Monday before positioning for the Nifty Oil and Gas prediction for Monday.
Kunal Singla of Univest notes that the Nifty Oil and Gas prediction for Monday has a dual structure for Monday: the recovery case (IT and Auto momentum continues, SBI Q1 beat sustains, NFP healthy) and the continuation decline case (Bajaj Finance concerns spread to NBFCs, private banks extend selling, weak NFP). The Nifty Oil and Gas prediction for Monday’s support zone at 12,280-12,320 is the line between these two scenarios on Monday.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
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FAQs on Nifty Oil And Gas Prediction For Monday, 10 August 2026
What is the Nifty Oil and Gas prediction for Monday, 10 August 2026?
Ans. The Nifty Oil and Gas prediction for Monday is mixed-to-rangebound. ONGC gained 0.44 percent and BPCL lost 0.83 percent on Friday from MCX Crude at Rs 7,356. Reliance +0.74 percent is the sector positive. Support is 12,280-12,320 and resistance is 12,520-12,580 in the Nifty Oil and Gas prediction for Monday.
Which analysts prepared the Nifty Oil and Gas prediction for Monday?
Ans. Ankit Jaiswal, Senior Research Analyst, and Kunal Singla, Associate Director at Univest, prepared the Nifty Oil and Gas prediction for Monday using Groww-confirmed data: ONGC Rs 238.85 (+0.44%), BPCL Rs 321 (-0.83%), Reliance Rs 1,334.80 (+0.74%).
How does an Iran deal affect the Nifty Oil and Gas prediction for Monday?
Ans. Iran deal confirmed = Brent to 70-75 US dollars: BPCL strongly bullish (refining margin expansion), ONGC negative (realization decline). The Nifty Oil and Gas prediction for Monday composition split makes net index impact approximately neutral with high individual stock volatility.
What is Nifty Oil and Gas support and resistance for the prediction for Monday?
Ans. Support is 12,280-12,320 and 12,080-12,140. Resistance is 12,520-12,580 and 12,720-12,820 in the Nifty Oil and Gas prediction for Monday.
What stocks are watched in the Nifty Oil and Gas prediction for Monday?
Ans. ONGC (upstream realization), Reliance Industries (three independent catalysts), BPCL (Iran deal call option) are the three stocks in the Nifty Oil and Gas prediction for Monday.
