Protean eGov Technologies is showing early signs of base formation after a prolonged downtrend. The price is currently consolidating near the ₹850–₹880 zone, forming a potential accumulation structure that could lead to a gap-fill rally in the short to medium term.
The chart highlights two major unfilled gaps — a midway gap and a main gap — both acting as key upside targets once the current range breakout confirms.
🎯 Key Levels:
CMP: ₹866.80 (+2.25%)
Entry Zone: ₹850 – ₹880
Midway Gap Target: ₹1,100 – ₹1,150
Main Gap Target: ₹1,280 – ₹1,350
Stop-Loss: ₹820 (on daily close basis)
📊 Technical View:
Price consolidating after a steep decline — forming a base near support zone.
Volume spikes during accumulation suggest smart buying interest.
Breakout above ₹880–₹900 could trigger a gap-fill move toward ₹1,100+.
Short-term EMAs are flattening, indicating the downtrend might be losing momentum.
🧠 View:
Sustaining above ₹880 could confirm the beginning of a recovery phase. Watch for a breakout with volume to target ₹1,100 first (midway gap), followed by ₹1,300+ (main gap fill).
The chart highlights two major unfilled gaps — a midway gap and a main gap — both acting as key upside targets once the current range breakout confirms.
🎯 Key Levels:
CMP: ₹866.80 (+2.25%)
Entry Zone: ₹850 – ₹880
Midway Gap Target: ₹1,100 – ₹1,150
Main Gap Target: ₹1,280 – ₹1,350
Stop-Loss: ₹820 (on daily close basis)
📊 Technical View:
Price consolidating after a steep decline — forming a base near support zone.
Volume spikes during accumulation suggest smart buying interest.
Breakout above ₹880–₹900 could trigger a gap-fill move toward ₹1,100+.
Short-term EMAs are flattening, indicating the downtrend might be losing momentum.
🧠 View:
Sustaining above ₹880 could confirm the beginning of a recovery phase. Watch for a breakout with volume to target ₹1,100 first (midway gap), followed by ₹1,300+ (main gap fill).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.