NeeteshJain

Petronet About to Breakout from Symmetrical Triangle

BSE:PETRONET   PETRONET LNG LTD
It is been observed in the price action of petronet that after a steady rally, it consolidates in symmetrical triangle formation where there is buyers and sellers indecision with price actions. On the previous symmetrical the buyers took control and we got an upside breakout with high volume and it rallied well to 340 levels.

Now, the price action has come again in range bound situation in a symmetrical triangle where buyers and sellers fighting for control of prices. It will be interesting to watch a breakout on Monday with big volumes on either side. Let see which takes the control, buyers or sellers??

Comment below what your opinion on it and whom do you think will take control over prices on Monday?

Regards
I feel its down break out looking at structure and macd
+1 Reply
NeeteshJain udaya.gujaran
Yes It may happen to downside as well as upside as it is still trading above 20 EMA.
Reply
udaya.gujaran NeeteshJain
you were right it break out on upper side.
Reply
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