IGIL - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.0

Here’s a detailed technical analysis of IGIL (India Glycols Ltd)

📊 Trend Overview

Phase: Reversing with bullish momentum

Price Action: Trading above the 50-DMA (₹364) but slightly below the 200-DMA (₹396), suggesting a short-term recovery within a broader corrective structure.

Volume: Below average (4.78L vs 8.47L), indicating cautious participation and lack of breakout conviction.

📈 Momentum Indicators

RSI (58.5): Neutral-to-bullish zone — momentum is improving, with room for further upside before overbought conditions.

MACD (4.91): Positive and diverging — confirms bullish momentum and potential continuation.

Bollinger Bands: Price likely near the middle-to-upper band, suggesting strength with room for expansion.

🧭 Chart Patterns

Rounded Base Formation: Price recovery from ₹282 indicates a potential reversal setup.

Resistance Retest: Price is approaching the 200-DMA zone, which could act as a breakout trigger.

🔍 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 364 50-DMA, short-term base

Support 2 340 Previous swing low

Support 3 282 52-week low

Resistance 1 396 200-DMA, trend reversal trigger

Resistance 2 420 Minor resistance zone

Major Resistance 500–642 Breakdown zone and 52-week high

🎯 Entry & Exit Zones

Optimal Entry: ₹364–₹380 (on dips with volume confirmation)

Short-Term Target: ₹396–₹420

Exit Zone / Stop-Loss: ₹340 (below swing support)

🔄 Short-Term Outlook

Momentum: Positive and building

Bias: Bullish above ₹364; cautious below ₹340

Phase: Reversing — with breakout potential

🧠 Key Takeaways

IGIL is showing signs of recovery, supported by bullish indicators and improving price structure.

RSI and MACD confirm momentum, while price action suggests a potential breakout above the 200-DMA.

A close above ₹396 with volume could unlock upside toward ₹420–₹500.

Let me know if you’d like a chart visualization or screener of similar reversal setups in the specialty chemicals or industrials space.

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