Indraprastha Gas Limited is in a rising trend channel in the medium long term. This shows that investors over time have bought the stock at higher prices and indicates good development for the Company. The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range.
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There is no resistance in the price
chart and further rise is indicated. In case
of a negative reaction, the stock has
support at approximately 440 rupee.
Positive volume balance indicates that
volume is high on days with rising prices
and low on days with falling prices, which
strengthens the stock. The short term
momentum of the stock is strongly
positive, with RSI above 70. This indicates
increasing optimism among investors and
further price increase for Indraprastha Gas
Limited. However, particularly for big
stocks, high RSI may be a sign that the
stock is Overbought and that there is a
chance of a reaction downwards. The
stock is overall assessed as technically
positive for the medium long term.
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