NSE:PETRONET
It has managed to close above 240 which is a good support, can be considered for long with a target of 248, 252 and being a slow mover in few days might hit 259.
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Hi all,
Its pleasure to have you all...
Last session saw heavy and unusual volumes in this script with short covering and it closed above it high of February.
It can be a long with sl of 270 for a target of 276, 280 and 284, the aggressive ones can bet for 290 and trail their sl.
Risk reward is too good for trade.
Buy came a few days . But did not take as 50EMA was below 200EMA
Now 50EMA crossed 200 EMA. Prices were in sideways last few days..
So again a buy above rectangle bos 270 levels for a 40 to 50 Rs move.
On downside will byt if finds support at 200 EMA.
Sell below 200 EMA on close open basis.
At large the stock is in a continuation phase currently and is expected to consolidate further given its possible pennant structure. However, the supply zone has been tested multiple times in the last 7 trading sessions combined with higher lows at each test. This may cause an untimely break in the following trading session which in turn will provide a good...
Petronet is in clear uptrend on weekly TF.
On Daily TF, it is consolidating in a range. Now has made a higher low with a strong Bullish Engulfing yesterday.
I am long. Target has been set as per classical charting rules i.e. equal to max width of ascending triangle.
