Overall Technical outlook

Price Summary

Mahanagar Gas Limited's shares slumped -4.31% today, reflecting a lacklustre day on the market.
On 2025-05-30, Mahanagar Gas Limited's stock began at 1384.9, peaked at 1387.5, declined to 1320.2, and ended the day -4.31% down at 1325.2, with 892790 shares traded.
Over the past year, the stock's highest price was 1964.95, and its lowest was 1125.35.
29 analysts forecast that the price of MGL will range from 1030.0 to 2000.0, with an average expected price near 1528.931.

Technicals

Support and Resistance: The price for MGL at 1325.2 is supported by the 1286.95 level and faces resistance at 1336.5. This range indicates key levels where the price may find buyers near 1286.95 and sellers near 1336.5, defining a trading range.
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Support/Resistance for MGL


Aroon: The AROON is neutral, showing no definitive signals of a trend either upward or downward. This neutral stance indicates a period of market indecision, where the direction is unclear.
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Aroon chart for Mahanagar Gas Limited


Bol. Bands: The current price has experienced a significant bearish move, crossing under the lower Bollinger Band after dropping from above the middle band. This sharp decline, spanning two bands in a single move, reflects strong selling pressure and a potential continuation of the bearish trend. The steep drop could also suggest an oversold market for MGL, where a reversal may occur if buying interest picks up at these lower levels.
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Bolinger Bands chart for Mahanagar Gas Limited


Parabolic SAR: The PSAR maintains a bearish outlook, setting a key resistance level that could limit further gains. This resistance reinforces the bearish sentiment, indicating that the market may face challenges in pushing higher.
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Parabolic Stop and Reverse chart for Mahanagar Gas Limited


Stochastic: The current reading of the STOCHASTIC indicator suggests a neutral stance, with no clear signals indicating an upward or downward direction. This lack of directional bias suggests the market may be in a period of consolidation or uncertainty.
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Stochastic chart for Mahanagar Gas Limited


Tripple Moving Agerage: The alignment of the 20, 50, and 100 moving averages suggests a bearish trend, but the wavering slopes of the 20 and 50 SMAs hint at a potential shift. This weakening momentum could indicate that the bearish trend is running out of steam, possibly leading to a bullish reversal in the near future. Investors should be aware of the possibility of a market turnaround as the current downtrend begins to falter.
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Tripple SMA chart for Mahanagar Gas Limited


A thorough analysis of a company involves looking at both its fundamentals and technical data. The fundamentals, including revenue, profitability, and management quality, offer insight into the company's long-term value. Additionally, understanding the broader industry context, such as market competition and regulatory challenges, helps to better interpret the company's stock performance. By combining both fundamental and technical analysis, you can derive more meaningful inferences about the company's future prospects.