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

Comments

Today SL hit badly for Petronet
+1 Reply
Rachit_Sethia Nileshblr2007
@Nileshblr2007, I feel bad for the trade. It was a fine breakout and then the stock crashed like anything. It had its board meeting, the eps YoY grew, QoQ fell. Board also has recommended a dividend of 3.5/share.
Apologies for loss.
The whole market crashed post noon.
Reply
venkat_sj Rachit_Sethia
@Rachit_Sethia, dont be sorry bro. This sell of is triggered by investors due to bad results. Its part of the game. And moreover SL is part of the game. We can cover it.
+1 Reply
Rachit_Sethia venkat_sj
@venkat_sj, Sir, I assure u the pull back of this stock. Might take some time.
Thaanks for understanding.
Reply
Nice analysis and detailed factors,. Thanks for sharing.
+1 Reply
Rachit_Sethia venkat_sj
@venkat_sj, Thanks Venkat for stopping by. I am glad this analysis was helpful. I have posted a lot of new idea recently. If not trade, u can have a look at them, there is a lot to learn from them.

In case u trade and earn from this trade, kindly comment and let me know. Good luck!😀
Reply
venkat_sj Rachit_Sethia
@Rachit_Sethia, Sure, will do them :) pls continue the great work.
+1 Reply
Nileshblr2007 venkat_sj
true
+1 Reply
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