ANKITHSHAJU

PETRONET LNG Short & Simple Short term Analysis✔✔

Long
NSE:PETRONET   PETRONET LNG
💢for risky players💢

enter @230-40 range
strict sl below 200🙏

trgt 258-275-300+🎯🎯
long 400+💰

is this Accumulation Or distribution?

🔹Fund houses/brokerage firms updating their trgt into 280-300-350 levels.
🔹Stock with good financial performance alongside good to expensive valuation.
🔹Strong Financial perfomance.
🔹Also the chart looks postive.
🔹Has been consolidating for the last 4 years.

✔197-202 is the major support level of the stock.
✔In the pademic crash the stock made a low of 170, 40% from jan high.chart below👇

✔Just 15% from it's major support(4 year support).👇
✔I am not saying 40% is small correction.yes it's a good correction.But we can see big rejection/wick candles in weekly time frame.that's why i feel it like an Accumulation.👇

I am not sure guys. I shared just my analysis✨
you can also share your views. Comment below✨

Anyway keeep watching

note this is not a stock recommendation Study then enter🙏

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