petronet in triangle 4hr wait for breakout
Short Term Cash Buy PETRONET @267.00-269 SL 262.3 TGT 279 TK cross over at 265 so go long on short term NIFTY in downtrend but this stock is in green.
NSE:PETRONET Petronet just broke the flag and now ready to touch high... Targets on chart...
Short around CMP (372.5-372.75) SL above 374.5 TGT: 2-3 points
Long above 278 Positional good stock to go long above 278 with SL 250 Target 320 / 350++
Petronet formed wolfe wave on 15 MIns TF, Target on chart
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.
PETRONET (Petronet LNG Ltd) BUY ABOVE 277
PETRONET (Petronet LNG Ltd) SELL BELOW 270
PETRONET (Petronet LNG Ltd) BUY ABOVE 289
PETRONET - Short sell with a SL of 273 and a target of 236
Trade Plans: Buy Above 267.95 with the stop loss of 265.3
Petronet LNG is extending as part of the 3rd wave as so don't expect much pullbacks . A good stock(technically and fundamentally) to have in your portfolio as it has a lot more upside potential from current levels. Short Term Target > 300+ Medium Term Target > 350+ Long Term Target > 400+ Good Luck.
It is been observed in the price action of petronet 0.28% that after a steady rally, it consolidates in symmetrical triangle formation where there is buyers and sellers indecision with price actions. On the previous symmetrical the buyers took control and we got an upside breakout with high volume and it rallied well to 340 levels. Now, the price action has come...
petronet sell below 283 stoploss 285 target 269