IGL : Ascending Channel + Key Support Confluence – Critical ZoneIndraprastha Gas LimitedNSE:IGLAkhildas_PIndraprastha Gas Limited: Price is trading near the lower boundary of a long-term ascending channel, indicating a high-probability reaction zone. This area forms a confluence of dynamic trendline support and horizontal demand (~150–140 zone), making it technically significant. Structurally, the stock is still maintaining a series of higher highs and higher lows on the higher timeframe, keeping the broader trend intact. The current pullback appears corrective within this trend. Key technical observations: Trendline Support: Multi-year ascending support acting as a demand zone Horizontal Support: Previous consolidation/resistance turned support Price Structure: Still intact unless a lower low is formed Potential Scenarios: Bullish Case: Strong bullish reaction (rejection wicks / bullish engulfing) → move toward 300–600 range Bearish Case: Weekly/monthly close below channel → structure breakdown → downside continuation Volume behavior near this level will be crucial—an increase in buying volume can confirm accumulation. Caution: This is not a trade recommendation. Wait for confirmation signals such as price action or volume before entering. Breakdown below support may invalidate the setup—strict risk management is essential.