Rachit_Sethia

#PETRONET CMP247 #Target 271(10%) #ioc #ongc #tidewater #bpcl

Long
NSE:PETRONET   PETRONET LNG
#PETRONET
NSE: PETRONET
CMP 247
Target : 271
SL 238
Time Frame < 2 months
Can hold the stock for longer time after part booking.


Factors:
Trend Following
Inverted Head & Shoulder Pattern.
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
PEER COMPARISONS:
NSE: ONGC
NSE: TIDEWATER
NSE: IOC
NSE: OIL
NSE: HINDPETRO
NSE: BPCL
NSE: PETRONET
NSE: SUPPETRO
NSE: CHENNPETRO
NSE: RELIANCE

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With 💚 from Rachit Sethia
Trade closed: stop reached

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