Adani Total Gas, one of the trademark companies of the Adani Group, is a leading supplier of piped natural gas and commercial natural gas.
The stock prices of Adani Total Gas Ltd, which goes by the ticker symbol NSE: ADAG, have been witnessing strong upside movement in the last couple of days.
After a strong yet short-lived downtrend, the stock prices have bounced back from 3000 to 3500. Eventually, the buying pressure has broken the parallel resistance zone of the downtrend at 3150.
Followed by the Breakout, we can notice a strong upward momentum in the stock prices, indicating a sentiment shift.
Take a look at the Price Action Analysis of Adani Total Gas Ltd.
Adani Total Gas – Price Action Trading Analysis on 2h Timeframe
It’s clear to see that the short-term downtrend has reversed in Adani Total Gas Share prices. A strong breakout from the Parallel Resistance zone has given strength to buyers.
Along with the breakout, the traders who have large positions are trapped by the sudden shift in market behavior.
So far, the stock prices have rallied by more than 14% ( at the time of writing this content). Once the momentum sets in, prices could climb even higher.
As of now, I think the short-term downtrend has reversed in the stock and buying interest is pushing stock prices higher.
What do you think about Adani Total Gas Ltd? Will prices shoot up even higher? Leave your thoughts and inputs in the comments.
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