Petronet LNG is facing strong resistance - Neutral/Negative bias

Petronet LNG is facing strong resistance and rejected multiple times from multi-year strong resistance. Stock is likely to consolidate before making any significant move up-side.

F&O data also suggest the same, as heavy call writing has taken place 260-280 levels for the 31 Dec Series.

Comment:

Petronet LNG remains below the Multi-Year long resistance for Dec 2020 series