PGEL

Chart Analysis

The daily chart of

Ltd shows a clear shift in momentum. After a strong uptrend from July 2024 to January 2025 — where the stock nearly tripled — it formed a double top pattern around the ₹1,100–₹1,150 range, signaling distribution. Since then, it has entered a downtrend, forming lower highs and lower lows. Currently, the stock is consolidating near the ₹750–₹770 zone, showing signs of base formation, but without a confirmed reversal. The price is testing a crucial support area that previously acted as a breakout level in late November 2024. Weak volume and small candles in recent sessions suggest indecision among market participants. A breakdown below ₹750 could trigger further downside, whereas a sustained move above ₹820–₹850 would be an early sign of trend reversal.