Petronet- Buy above 254.45 ONLY
TGT: 4.5++ Point (Will update later)
Disclaimer: These are just my views, I am only SHARING my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
Fundamental positive cues:
1. Indian Govt. news on regulating tariff and facilities of LNG to boost demand
2. Decreased impact on financial performance in spite of lockdown
3. June and July seeing an increase in storage and pipeline utilization in its major sites (Dahej Terminal) compared to April / May
4. Permission granted to open LNG stations across the...
Note: This is for educational purpose only.
There seems to be a bullish breakout and price might test the upper channel. Moreover, there is a high buying volume spike. RSI above 60 confirms bullish momentum.