Gujarat State Petronet Ltd – Technical Insight

Gujarat State Petronet Ltd – Technical Insight (SEBI Reg. INH000019886 | Educational Purpose Only) 🔹Technical View: Price trading inside a large falling wedge, generally considered a bullish reversal pattern. Recent candle shows a strong bounce from wedge support, signalling buyers active. Price reclaimed short-term averages; 20-EMA just above current price acting as minor resistance. Bollinger Bands squeezing → volatility contraction, possible upcoming expansion move. RSI around 52–54, indicating momentum turning from bearish to neutral-positive. 🔑Key Levels: Upside: ₹310 → ₹322 → ₹345 (wedge breakout projection) Supports: ₹293 / ₹280 🔹 Pattern Outlook: A confirmed breakout above ₹310 may trigger momentum toward the measured target zone near ₹340–₹350. ⚠️Disclaimer: Educational only. This is not a buy/sell recommendation.