IGL - Technical Analysis

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

Technical Rating: 3.3

Here’s a strategic breakdown of Indraprastha Gas Ltd (IGL) based on its technical profile and recent price behavior

📉 Trend Snapshot

IGL is trading at ₹206, slightly below both 50-DMA (₹210) and 200-DMA (₹209) → signs of a mild downtrend or early reversal.

From ₹285 to ₹206, the stock has retraced ~28% from its 52-week high, despite maintaining a 52-week index of 40%, which suggests decent medium-term performance.

🧭 Trend Status: Reversing, as price tests major support zones with weakening momentum.

📊 Momentum Indicators

RSI (41.1): Hovering in the lower-neutral zone → momentum leaning bearish, but not deeply oversold.

MACD (-1.93): Bearish crossover still active → signals cautious sentiment.

Volume: Slightly below weekly average → confirms low participation, typical of consolidation or hesitation.

📈 Bollinger Bands Insight

Price likely near or dipping below the mid-band, with no squeeze detected.

Indicates neutral-to-weak volatility, potentially setting up for breakout resolution.

🧭 Support & Resistance Zones

Zone Type Price Zone (₹) Insights

Support 200 – 206 Recent consolidation base and near psychological level

Resistance 216 – 220 Overhead supply zone + minor swing highs

Breakout Zone 225+ Bullish trend resumption if price closes above with volume

🎯 Trade Strategy

Entry: ₹201–₹206 (buy zone near support)

Exit: ₹215–₹218 (short-term resistance before breakout zone)

Stop Loss: ₹195 (just below support floor)

📌 Conclusion

IGL is showing early reversal signs, although momentum remains weak.

A breakout above ₹225 backed by volume and RSI above 50 would confirm trend resumption.

For now, it's a tactical play, not a momentum chase — best suited for range-bound trades or bounce attempts.

Want to analyze how gas demand data or regulatory moves are impacting IGL versus MGL or Gujarat Gas? I can layer that in for even sharper decision-making 🔍📊

Edit in a page