Petronet: Readying /Consolidating
According to my chart analysis, it's kinda creating a curve... I mean .. it's probably forming a cup and handle pattern..(now ...a making of a cup is in progress) and it's in the pre- stage. So one can trade by buying at lower band and book at upoer band. Minimum 15 points trade (like 206 to 220rs as per price action)
Right now , indicators, MACD is showing its totally bearish.. RSI and stock RSI are too coming down ...so ...i think around 206-205 levels are good to buy (if i get a sign of any trend reversal). I'm gonna buy it for short to medium term..so whenever it come in lower band of curve... I will accumulate. Fundamentals are decent. Last 3 qtrly results were good.
If one wants to leave eome insightful view... Feel free to do so.
Right now , indicators, MACD is showing its totally bearish.. RSI and stock RSI are too coming down ...so ...i think around 206-205 levels are good to buy (if i get a sign of any trend reversal). I'm gonna buy it for short to medium term..so whenever it come in lower band of curve... I will accumulate. Fundamentals are decent. Last 3 qtrly results were good.
If one wants to leave eome insightful view... Feel free to do so.
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