SWING TRADE: PETRONET Long

PETRONET LNGNSE

Description

⋅ Jun 7, 2021 11:21 AM

Watch for breakout and day close above breakout area.

Levels are given on chart.

Disclaimer: This is educational purpose only.

Please share your thoughts in the comments section below.

Comments

tradetiger05

⋅ Jun 9, 2021 5:09 PM

can we see a reversal in this stock may be in a day or two... please suggest

Sarthik

⋅ Jun 10, 2021 3:21 AM

@tradetiger05, we cannot predict, better to wait for the below trendline breakdown i.e. the major support line. This is my personal view.

brockbikilesnar

⋅ Jun 9, 2021 10:53 AM

It has corrected a lot in just one day

Sarthik

⋅ Jun 9, 2021 1:14 PM

@brockbikilesnar, yes

Nileshblr2007

⋅ Jun 9, 2021 10:28 AM

Sir Petronet crashed 8 % from.BO levels.
Now trading at 226 to 228 levels. Please advise if need to wait for target or exit with SL

Sarthik

⋅ Jun 9, 2021 1:14 PM

@Nileshblr2007, Yesterday's close was below the breakout i.e. at 248.5, it is wrong entry. It got corrected a lot may be due to quarterly results. If you want to hold for long-term you can keep stop loss to the below trendline. These are my views, you can decide based on your risk apatite.