# Adani Total Gas Share Price Soars: A Comprehensive Market Analysis

URL: https://technosports.co.in/adani-total-gas-share-price-soars/  
Published: 2024-11-28  
Updated: 2024-11-28  
Author: Reetam Bodhak

In a significant market movement on November 28, 2024, [Adani Total Gas](https://www.adanigas.com/) shares demonstrated exceptional strength, recording a substantial gain of 14.12% to reach ₹792.25. This impressive rally came against the backdrop of broader market weakness, with both Sensex and Nifty trading in negative territory.

The substantial price increase, backed by unprecedented volume, suggests a possible trend reversal in Adani Total Gas shares. However, investors should note that the stock still trades below its longer-term moving averages, indicating the need for sustained momentum to confirm a longer-term bullish trend. The strong fundamental metrics, including healthy ROE and ROA, provide additional support to the stock’s valuation, though the high P/E ratio suggests premium valuations.

![Adani Total Gas Share Price](https://technosports.co.in/wp-content/uploads/2024/11/adani-gas1-1024x682.avif)

## **Adani Total Gas Share Price: Trading Dynamics**

### **Price Movement**

The stock exhibited strong momentum throughout the trading session:

- Opening Price: ₹717.60
- Day’s High: ₹823.30
- Day’s Low: ₹712.40
- Previous Close: ₹692.25

### **Volume Analysis**

A remarkable surge in trading volume was observed, with activity levels reaching 2274.97% higher than the previous session across both NSE and BSE. This significant increase in volume, coupled with positive price action, suggests strong buyer interest and potential trend reversal.

## **Technical Indicators**

### **Moving Averages**

The stock is showing strength by trading above multiple key moving averages:

- 5-day SMA: 630.88
- 10-day SMA: 663.42
- 20-day SMA: 692.00
- 50-day SMA: 738.69

However, it remains below longer-term moving averages:

- 100-day SMA: 805.43
- 300-day SMA: 883.82

### **Support and Resistance Levels**

Key resistance levels:

- R1: ₹736.22
- R2: ₹777.13
- R3: ₹858.97

Key support levels:

- S1: ₹613.47
- S2: ₹531.63
- S3: ₹490.72

![](https://technosports.co.in/wp-content/uploads/2024/11/adani-gas-3-1024x576.webp)

## **Fundamental Analysis**

### **Key Metrics**

- ROE: 20.47%
- ROA: 10.62%
- P/E Ratio: 108.63
- P/B Ratio: 19.52

### **Shareholding Pattern**

As per September quarter filings:

- Promoter Holding: 0.00%
- Mutual Fund Holding: 0.11%
- FII Holding: 13.07%

**Read More:** [Adani Energy Solutions Share Price Plunges: Understanding the 28% Drop](https://technosports.co.in/adani-energy-solutions-share-price-plunges/)

## **FAQs**

### **Q1: What factors are driving the current rally in Adani Total Gas share price?**

The significant price surge is supported by extremely high trading volumes (2274.97% higher than the previous session) and technical indicators showing a potential trend reversal. The stock’s movement above key short-term moving averages suggests growing investor confidence.

###    **Q2: How does Adani Total Gas compare with its sector peers?**

  
While Adani Total Gas showed strong performance with a 14.12% gain, sector peers showed mixed results. Companies like GAIL India and Gujarat Gas Company traded positively, while others like Indraprastha Gas experienced declines, indicating stock-specific movement rather than sector-wide trends.