IGIL - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 4.0

Here’s a detailed technical breakdown of IGIL (Indo Gulf Industries Ltd) — the chart reveals signs of bullish strength with consolidation after a recovery from lows

📊 Trend & Price Structure

Current Price ₹407 lies above 50-DMA (₹386) but slightly below 200-DMA (₹413) → suggests short-term strength with long-term overhead supply still holding.

Stock has bounced ~44% from 52-week low ₹282, though it's ~37% off from high ₹642.

52w Index: 34.7% → highlights modest recovery within a broader downtrend.

🧭 Trend Status: Consolidating, with bullish momentum attempting to overcome medium-term resistance.

📉 Momentum Indicators

RSI (60.6): Healthy bullish zone → indicates strength and room for continued move upward.

MACD (7.71): Positive crossover, confirming short-term bullish momentum.

Volume (4.0L) vs 1W Avg (10.1L): Lower activity may limit breakout conviction without stronger participation.

📈 Momentum Verdict: Bullish momentum present, but volume confirmation needed for upside breakout.

📈 Bollinger Bands Review

Price appears to be approaching the upper Bollinger Band, which can signal bullish continuation but also warns of near-term resistance.

No visible squeeze → suggests price action may remain directionally biased without volatility contraction.

🔍 Support & Resistance Zones

Type Price Range (₹) Commentary

Support 390–400 Holding zone above 50-DMA, base-building area

Resistance 415–425 Near 200-DMA zone; breakout confirmation needed

Breakout Above ₹430 Would validate bullish continuation into ₹470–₹500

🎯 Trade Setup

Entry Zone: ₹395–₹405 (low-risk area near support and 50-DMA)

Exit Zone: ₹420–₹430 (test zone near resistance and breakout trigger)

Stop Loss: ₹384 (below 50-DMA and minor support)

📌 Conclusion

IGIL is currently consolidating with bullish intent, resting near key breakout levels.

Traders may consider tactical entries for short-term momentum plays, especially if volume picks up.

Sustained move above ₹430 with higher-than-average volume would confirm upside breakout.

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