Petronet LNG (W): Bullish (Golden Crossover + Re-rating)(Timeframe: Weekly | Scale: Logarithmic)
Overall View: 🐂 Bullish (Golden Crossover + Fundamental Re-rating)
The stock has confirmed a classic Golden Crossover in daily timeframe, marking the end of its previous corrective phase (which saw lows of ₹263). This technical buy signal is heavily supported by strong operational quarterly numbers and a surge in institutional derivatives positioning.
🚀 1. The Fundamental Catalysts (The "Why")
The technical crossover is backed by three major engines:
> Q3 Earnings Beat (Feb 12): The company reported solid numbers, with Profit Before Tax (PBT) rising 6% QoQ to ₹1,144 Crore.
> Operational Milestones: Capacity utilization at the flagship Dahej terminal hit a massive 94% , while the Kochi terminal achieved its highest-ever utilization of 29% .
> Capex Expansion & Open Interest: Management announced a massive ₹9,000 Crore Capex for FY27 (primarily for their petrochemical push). Furthermore, there was an ~12% surge in Open Interest (OI) in derivatives on Thursday, signaling that institutions are actively building long positions for a broader move.
📈 2. The Chart Structure (The Recovery Base)
> The Base: After bottoming out at ₹263, the stock formed a strong rounding recovery base.
> The Golden Cross (Daily Timeframe): The 50-EMA crossing the 200-EMA is the ultimate "Lagging Confirmation" that the base-building is complete and the markup phase has begun. Because the price (₹306) is well above the crossover point (~₹288), the momentum is already locked in.
📊 3. Volume & Indicators
> RSI: The Daily RSI is currently around 58–60 . This is the "Sweet Spot." It is in bullish territory but not yet overbought, meaning the stock has plenty of runway to surge before needing to cool down.
> Moving Averages: The stock is now trading above the 5, 20, 50, 100, and 200-day moving averages, putting it in a state of absolute trend harmony.
🎯 4. Future Scenarios & Key Levels
With the Golden Cross active, the stock is primed to chase its recent highs.
🐂 Bullish Targets (The Markup):
- Target 1: ₹326.50 This is the immediate magnetic resistance.
- Target 2: ₹345+.
🛡️ Support (The "Must Hold"):
- Immediate Support: ₹295. The recent short-term swing base.
- Structural Support / Stop Loss: ₹288. This is the exact zone of the Golden Crossover (the 50/200 EMAs). If the stock falls back below this, the crossover is invalidated (a "Bull Trap").
Conclusion
This is a High-Conviction Setup.
> Refinement: The Golden Crossover is the headline, but the Record Kochi Utilization + OI Surge is the actual fuel.
> Strategy: It is a buy-on-dips candidate.
Long