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Simple Trade Setup | PETRONET | 28-09-2021NSE:PETRONET Observations: 1) On Daily Time frame, Finally it has broken and closed above 200 DMA. 200DMA is placed at 236.74 level. Only negative thing is that volume of today was less than yesterday as well as just below averange of 21 days. Please refer below chart : Daily time frame. ------------------------------------- Trade Setup for Date 28-09-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
NSE:PETRONET
by Trading_hawk
Simple Trade Setup | PETRONET | 24-09-2021 [INTRADAY]NSE:PETRONET I am posting this on request from one of the follower. Observations: 1) On Daily time frame, we can see that 21DMA has made crossover of 100DMA. As per theory when the small moving average crosses above big moving averange then it will be a sign that a bullish move is going to come. But this doesn't work all the time. This is just a sign. But for the trader it is always to keep such sign in mind but follow levels to trade. 234 is immediate critical resistance. Please refer below chart : Daily time frame. 2) One 1 hr time frame we can see that it has been trading in parallel channel pattern. Please refer below chart : 1 hr time frame. ------------------------------------- Trade Setup for Date 24-09-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
NSE:PETRONET
by Trading_hawk
9
Simple Trade Setup | PETRONET LNG | 07-09-2021NSE:PETRONET I am selecting PETRONET again for 07-09-2021. Observations: 1)On 15min Time frame today we can see that it has broken out from the parallel channel and also closed above 230 level. Tomorrow if it sustain above 230 level then we can see a good upmove. Please refer below chart : 15min time frame. 2)On Daily Time frame we can see that after making rounding bottom pattern, today it opend gap up above 230 level and closed above 230 level. If tomorrow it gets support from 230 level then we can see a good up move. Only drawback for today is that it has made bearish candle on daily time frame. Please refer below chart : Daily time frame. 3) Also on 15min time frame it has made rounding bottom pattern today. With neckline level at 231 level. For intraday trade 231 level breakout will give good intraday up move. Please refer below chart : 15min time frame. ------------------------------------- For POSITIONAL long trade , one can take long position for short term from CMP as far as it is trading above 230 level. SL will be 225 and target will be 240/245. ------------------------------------- Trade Setup for Date 07-09-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:PETRONET
by Trading_hawk
7
Simple Trade Setup | PETRONET LNG | 06-09-2021NSE:PETRONET Observations: 1) On Daily Time frame, if you can see that level 230 is working as critical level since long time. It was working as both support and resistance since long long time. Please refer below chart : Daily time frame. 2)Also, on Daily Time frame you can see that it has closed above 100DMA but still below 200DMA. One good thing is that it has broken and taken good support from 21DMA. Please refer below chart : Daily time frame. 3) Further on Daily time frame it is forming rounding bottom pattern. And neckline/breakout level for the same is 230 level. Please refer below chart : Daily time frame. 4) On 15min Time frame we can see that since 17 Aug it is getting good support from the accending parallel channel. Please refer below chart : 15 min time frame. ------------------------------------- For POSITIONAL trade one can take safe long position only on sustainable breakout of 230 level. SL will be 218 and Target will be 250/260/270 in short/mid term. ------------------------------------- Trade Setup for Date 06-09-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:PETRONET
by Trading_hawk