Chart check: Adani Total Gas above 200-DMA; should you buy, sell or hold?

Market strategist Anand James of Geojit highlights that in the past ATGL stock reversed sharply after crossing the 200-DMA, therefore, one should be cautiously positive with a stop at ₹580.

Shares of gas-related companies have been in limelight lately due to supply disruptions of crude oil and natural gas via the Strait of Hormuz amid the US-Iran war.  Stock prices of gas transmission and marketing companies, barring Adani Total Gas (ATGL), have tanked up to 14 per cent thus far in March. Analysts believe that the sell-off in gas-related stocks has mostly been on account of panic selling rather than a change in fundamentals. READ MORE  Interestingly, ATGL stock has soared nearly 20 per cent thus far in March and was trading above its long-term 200-day moving average (200-DMA) for the second straight trading session - up 1 per cent at ₹614.  Anand James, Chief Market Strategist at Geojit Investments highlights that in September 2025, too, the stock witnessed a similar sharp rise that pushed ATGL above its 200-DMA, only to see it hammered in the next few days.  The analyst is wary of a similar reversal this time around, and hence remains cautiously optimistic on the stock. 

 

 

  "We are wary of such a reversal, given how swiftly prices have declined from the day’s high, after rising above the 200 day SMA for the first time this year. We will retain the positive view only if the ongoing pull back does not stretch much below ₹604, while the downside marker may be placed near the upper Bollinger Band near ₹580," says James.  Meanwhile, among other gas-related stocks, the analyst recommends to adopt a wait and watch approach on Gail India for a likely breakout. 

Gail India

  A horizontal resistance formed by the multiple highs and lows of this month appears to stand in the way of Gail's further ascent, highlights James. 

 

  Having said that, there lies a higher possibility of a mean reversion move, given the upswing from lower Bollinger Band, thus encouraging us to expect continuation of uptrend, says the analyst. He reckons to watch out for a break of ₹155 to serve as an upside confirmation.  Disclaimer: The views expressed by the brokerage/ analyst in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.