Adani Total Gas Ltd – Technical Outlook
(Educational Purpose Only)
Price Structure:
The stock has given a strong rebound from long-term support near ₹555–₹560 after forming multiple bottoms, indicating demand emergence at lower levels.
Pattern & Trend:
A falling wedge breakout is visible on the daily chart, which is a bullish reversal pattern. Price has closed above the wedge resistance with a strong bullish candle.
Indicators:
• RSI turning upward from oversold zone, signaling momentum revival
• MACD showing bullish crossover from low levels
• Bollinger Bands contraction followed by expansion hints at a fresh move
• Volume spike confirms breakout validity
Key Levels:
Support: ₹580 / ₹555
Buy Zone: ₹580–₹595
Resistance: ₹640 / ₹680
Targets: ₹650 – ₹700
Stop Loss: ₹555 (closing basis)
Bias:
Bullish reversal setup. Sustaining above ₹580 can lead to further upside towards ₹650+ in the short to medium term.
⚠️ For educational purposes only. Not investment advice.
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