Protean eGov Technologies Ltd – Gap Fill Setup (Daily Chart)

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).