MGL - Technical Analysis

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

Technical Rating: 2.9

Here’s a detailed technical analysis of Mahanagar Gas Ltd (MGL) based on current indicators and price action

📉 Trend Overview

Current Trend: Reversing to bearish

Price has slipped below both 50 DMA and 200 DMA, indicating weakening momentum.

RSI and MACD confirm a loss of strength, suggesting a potential downtrend or extended consolidation.

📊 Technical Indicators

Moving Averages

50 DMA: ₹1,432 — price is below, signaling short-term weakness.

200 DMA: ₹1,400 — price is below, confirming medium-term bearishness.

RSI (14): 37.9 — approaching oversold territory, but not yet a reversal signal.

MACD: -8.05 — bearish crossover, momentum fading.

Bollinger Bands: Price near lower band, indicating oversold conditions and potential for bounce.

Volume: 6.22L vs 1-week avg of 7.22L — below average, showing lack of buying interest.

📌 Support & Resistance Zones

Level Type Price (₹)

Immediate Support 1,375 – 1,360

Strong Support 1,340 – 1,320

Resistance Zone 1,400 – 1,420

Major Resistance 1,450 – 1,475

Trendlines suggest a breakdown from a rising wedge pattern, with downside risk toward ₹1,320 unless support holds.

🚨 Momentum Signals

Short-Term Entry Zone: ₹1,360–₹1,375 (only if reversal signs emerge)

Exit Zone / Target: ₹1,420–₹1,450 (if bounce occurs)

Stop Loss: ₹1,320 (below strong support)

⚠️ Conclusion

Momentum: Weak and fading.

Trend Status: Reversing downward after a failed attempt to hold above key averages.

Outlook: Cautious. Avoid fresh long positions until RSI improves and MACD flattens.

Watch for: Volume spike + RSI > 45 + MACD crossover for any bullish reversal.

Want me to chart this visually or compare it with peers like Gujarat Gas or IGL?

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