Custom index created by top M.cap companies in gas distribution sector with Adani total gas, GAIL, Gujgas, IGL, Petronet.
Trendline breakout. Petronet already made ATH.
ATGL is making Triangle Pattern at Daily time frame, today it made a Bullish Engulfing pattern too. Tomorrow a strong green candle above 1000 will be a good signal, if sustain the level.
For my learning and digital records purpose only.
NSE:ATGL
Earlier Adani Total Gas Limited gave 135% move within a few days and after that, it has been consolidating since 10th of December.
The pattern is a descending triangle after a long up move And A horizontal range Has been formed.
The support line of the pattern Is at 0.382 Of the Fibonacci retracement zone.
The volume is showing spikes on bullish...
ATGL Adani Total Gas Ltd Looks Attractive
Fundamentals : Strong, Consistent growth on Sales, Profits and EPS. High Reserves vs Debt Free.
Technicals : Good consolidation after significant correction above Strong Support zone. Good RR.
Resistance levels 1300 (Major resistance for trend reversal)
R 1: 1500
R 2: 1900
R 3: 2500
Support Zone : 900-800
NSE: ATGL is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 16% to 27% gain on...
--ascending triangle
--strong volume
--wait for the breakout
--Target -1200/1500/2000
Disclaimer:
- The view expressed here is my personal view
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk...
As per trading set up, the stock looks good due to following reasons :-
1. MACD crossover going to happened on daily chart and above the centre line which strong bullish signal.
2. On a weekly time frame, the stock is trading above centre line of MACD, which is positive signal for the stock.
3. RSI is 55 which came in bullish mode and likely to go above 60...
Another stock from the oil and gas sector looking very bullish. ATGL is forming a flag and pole pattern. Breakout above 1070 will give wings to the stock. You can track it with current levels. Stop loss 1000
A pennant pattern is a technical analysis chart pattern that forms after a substantial price movement in either direction. It represents a temporary pause or consolidation in the market before the price continues its previous trend.
After returning more than 100% stock has been consolidating in good range and ready for breakout in near term...long can be considered with SL 930 on weekly closing basis
Kindly do your analysis before initiating trade.
ATGL is forming Pennant pattern in weekly time frame and super trend is showing bullish trend.
Pennant pattern is bullish trend continuation pattern and if the price closes above the pattern, then the bullish trend continues.
Using Fibonacci retracement tool, we can set Target 1 at 1254.4 and target 2 at 1707.
Disclaimer:- Please always do your own analysis or...
Take entry at cmp 1110
Target 1669
Next average at 908
ATGL declared very good Q2 result .Promotors holding also more than 70%, Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation
