PetroNet Short Term Holding

Its very interesting price action , the Price did brake out form long consolidation range box and tested again the Top Brake out price and started moving up ward , but you can notice the move after retesting was very excited and started moving with gap up on every day basis , here the institutional will try to take their profits to control spike of the price , so your question is why ??
the simple answer is if price starts spiking up very fast then there will be very less time for institutional to sell their stock to week hand buyers , and probably the price will fall drastically on some point , to avoid such drastic price failure where the institutional will occur huge loss in case that happens so they of fen enter for profit booking when the price shoots with gap up on every day basis , if you are day trader must understand the slow up ward move is always strong move and sudden spike move is always risky and will be painful if price is marked down ,
The trading strategy here is Now we have to wait the price to reach up to 410 and look for reversal on strong volume , if price revers and starts moving up you can look for buying opportunity with stop of 400 Target of 440/465 for short term holding
Regards

Comment:

Price Close above 446 would take peak high up to 465 on the same day
Tomorrow Open price is very important for Upper thrust
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Comment:

Moving upward with Contracted Mode ,
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Trade closed: target reached:

My target reached , from 400 to 445 in 27 Days
its More than 10 % per month
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