The short-term outlook has turned bullish for Mahanagar Gas. The rise on Tuesday has taken the share price well above the 200-Day Moving Average (DMA).

It also confirms an inverted head and shoulder pattern on the chart. The price action shows that the momentum is gaining.

That marks the end of the downtrend and indicates that a new leg of upmove has begun. Support is in the ₹1,155-₹1,150 region.

Mahanagar Gas share price can rise to ₹1,285 in the coming weeks. Traders can buy Mahanagar Gas now at ₹1,185. Accumulate on dips at ₹1,160.

Keep the stop-loss at ₹1,120. Trail the stop-loss up to ₹1,195 as soon as the stock goes up to ₹1,210. Revise the stop-loss higher to ₹1,205 and ₹1,240 when the price touches ₹1,225 and ₹1,260 respectively.

Exit the long positions at ₹1,280.

Video Credit: Businessline

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)

Published on June 17, 2026