Gujarat Gas Ltd – Technical Outlook
(Educational Purpose Only)
Price Structure:
The stock was in a sustained downtrend and recently formed a strong bullish candle with high volume from the lower Bollinger Band, indicating short-term reversal strength.
Trend & Pattern:
Price has given a sharp bounce after consolidation near ₹380–₹390 support. However, it is still trading below the 20-EMA, so trend reversal will be confirmed only on follow-through buying.
Indicators:
• RSI bounced from oversold zone and crossed above 45
• MACD shows bullish crossover, downside momentum weakening
• Bollinger Bands indicate mean reversion from lower band
• Volume spike supports short-term bullish move
Key Levels:
Support: ₹390 / ₹380
Buy Zone: ₹400 – ₹405 (on sustain)
Resistance: ₹420 – ₹430
Targets: ₹420 / ₹445
Stop Loss: ₹380
Bias:
Short-term bullish pullback likely. Trend turns decisively positive only above ₹430 with volume.
⚠️ For educational purposes only. Not investment advice.