Adani Total Gas Shares Fall Sharply, Doubts Emerge Over Stock Holding Rs 1000 Mark

The shares of Adani Total Gas witnessed a significant decline over the past two trading sessions, dropping around 15% from its recent highs.

This has led to concerns whether the stock can now defend the key Rs 1000 level going forward.

Both the BSE and NSE have also placed Adani Total Gas under their additional surveillance framework amid high volatility in its counters.

Technical indicators are also painting a cautious picture, with the stock now below its short-term simple moving averages.

Multiple brokers have turned bearish on the counter and see downside risks emerging.

Resistance is seen around Rs 1100-1185 zones, while support is pegged at Rs 975.