These are the Source and Destinations of the Uptrend.
The Demand and Supply Equilibrium showing us the Areas on the equilibrium.
Long Trade with an Amazing Reward to Risk ratio.
ENJOY THE RIDE ! ! !
PETRONET long
breakout from last swing high on daily tf
breakaout from falling wedge trendline
RSI tradinb above 60 on daily TF
Breaking H&S in daily tf
After long time consolidation NSE:PETRONET is ready to make upside move.
As per my analysis, best level to take entry is 204.50, can hold stock till target of 211 & 224.50 .
Stop loss will be 190.
Note: This is my personal analysis, only for learning.
Thanks.
Short term Channel breakout with good momentum
In weekly it seems H & S formation.once break 245 expecting good Bull rally
All levels marked for education purpose only
There is an Alt Bat Pattern Formation on Petronet hourly chart.
Prices are currently trading in the PRZ zone of the pattern.
RSI is also in the oversold zone, hence there is the probability that we could see some bounce in the stock.
Resistance at 219-220 levels.
The pattern would be negated if prices close below 210 levels.
Disclaimer: Not a recommendation to trade.
