Adani Total Gas, Petronet LNG, Gujarat State Petronet: How to trade these 3 buzzing stocks

Indian benchmark indices took a 'U-turn' and settled sharply lower on Wednesday amid rising geopolitical concerns. Weak global cues kept the risk-off sentiments elevated on the back of the energy crisis. The BSE Sensex nosedived 1,342.27 points, or 1.72 per cent, to close at 76,863.71, while NSE's Nifty50 cracked 394.75 points, or 1.63 per cent, to end at 23,866.85 for the day.

Select buzzing stocks including Gujarat State Petronet Ltd, Petronet LNG and Adani Total Gas Ltd are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:
 

Petronet LNG | Caution | Resistance: Rs 300 | Support: Rs 270

Petronet LNG Ltd continues to consolidate within the Rs 300-270 range for the last six days. This range-bound action is expected to persist until a decisive closure occurs outside this band. The indicators reflect a lack of directional momentum with the daily stochastic showing a bearish crossover while the daily MACD remains in positive territory. A decisive break above Rs 300 is needed to spark fresh upward momentum. Conversely, a break below the key support at Rs 270 could initiate a downtrend.
 

Gujarat State Petronet | Caution | Resistance: Rs 307 | Stop Loss: Rs 270

GSPL's significant advance from Rs 270 to Rs 307 is now facing a pullback as profit-taking suggests a period of correction or consolidation is likely. The formation of long shadows on the daily chart adds technical weight to this slowdown scenario. On the downside, the critical support level to watch is Rs 270. A breach of this support may accelerate a decline toward the Rs 260-255 area. Conversely, a bullish reversal would only be confirmed upon a sustained break above the Rs 307 level.
 

Adani Total Gas | Caution | Resistance: Rs 570 | Support: Rs 535

Adani Total Gas Ltd demonstrated strong relative strength, rallying 20 per cent to hit the upper circuit at Rs 566.90 despite a broader market gas crisis, reflecting sustained buying interest and potential decoupling from sector-specific headwinds. It has witnessed a pullback move from its lower levels with momentum indicators aligning with the bullish price action. However, caution is advised as the stock trades near its 100-day SMA and the previous swing high of Rs 570 where profit booking may emerge. A sustained move above Rs 570 could pave the way toward the next resistance zone of Rs 600–605, aligning with the 200-day SMA. On the downside, in case of profit booking, support is visible near the 50-day SMA at 535 and the 20-day SMA around Rs 515.