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Petronet LNG - Good potential to move upStudy - (5th Jul) - PCR - 0.5 bullish; OC looks bullish as call unwinding happened at 290 but long position observed at higher level. Stock Huge resistance at 280 of 3L OI. 3rd July huge stock offloading observed due to short covering. Given a BO from the channel as well as above the trend line. Weekly candle is extremely bullish. RSI has also given breakout and is extremely bullish. More short covering will be observed once price sustained above 275. GOLDEN CROSS OVER has happened. Keep it in radar as probability is on higher side for up move. *This chart is for educational purpose only.
NSE:PETRONETLong
by P_Saha
Petronet LNGFundamentals- 1)A very attractive company in the space of Oil and Gas. 2)Company is beating the sectoral growth rate, operating profit, sales etc YoY and is growing the numbers by >20%. 3)numbers like Operating profit, net sales are doubling YoY @>20% 4)Company is cleaning its debt on YOY basis. 5)One of the leading players in the sector and is second to major players like ONGC and GAIL. Technicals- 1)Stock announced a split 2 days back and hence corrected by almost 50%. Keynote-->Its a good stock that can be accumulated at every dip. Positive News1--> Huge Mutual fund holding. CMP-214(7'Th July'2017) 1st target-300(8-10 months) Disclaimer : I am a private Investor/trader who is just expressing his views. These are just my opinions and i am not giving any kind of free or paid calls. I am using this platform to share my knowledge and learn from other's knowledge. I might be/might not be invested in my opinions. NOTE-->I give preference to the traders/investors who encourage me by commenting and liking my ideas.
BSE:PETRONETLong
by GagandeepSinghTaluja
3
Petronet exited channel. Pullback at 23.6% or 38.2% fib level.The Indian Oil Ministry plans to promote the conversion of one-third of existing long-haul trucks to LNG from diesel, as per a draft policy. Additionally, it aims to mandate that a third of new trucks operate on super-chilled gas This initiative may boost the LNG sector and promote a cleaner energy transition in transportation, potentially enhancing demand for infrastructure and technology related to LNG fuelling stations. The trucking sector could see a shift in investment opportunities towards LNG vehicles, impacting automotive and energy companies positively Petronet in a good spot for the same. Technically, price exited channel (profit booking happening after target 3 is achieved). Pullback will happen at 23.6% (326) or 38.2% (295) fib level. At worst case 50% fib level 271. Monthly & Quarterly chart looks good. Considering RSI touch points, reversal could happen now.
NSE:PETRONETLong
by naraykln
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
Petronet May Breakout Of A Rectangle Channel PatternTargets : 399-378 Sell range : 427-420 Stoploss : 452 Duration : 3-4 weeks Rationale : The attached daily timeframe chart of this Oil drilling & Exploration sector participant (PETRONET LNG) is indicating a beginning of a sharp weakness in the stock price. The stock has hit 52 Week high on 22-May-17, this gradual upmove of the last 4-5 months seems to have completed, as the stock price has started to show weakness from the highs of Rs 459 during this month. Initial evidence of a beginning of declines is visible in terms of downside breakout of the immediate support of ascending trend line (red dashed uptrend line) around Rs 435-436 On Daily charts, “Bearish engulfing” candlestick pattern was formed by Petronet as on 22/05/2017, and a “Three outside down” candlestick pattern was formed by the stock on 23/05/2017 with rise in volumes.,The above said pattern is a bearish trend reversal pattern of strong reliability. It is formed at an uptrend or at a possible resistance. Technical indicators are currently giving negative signals as the 3 days exponential moving average has crossed below 13 EMA after 9 days Momentum indicators like the 14-week RSI are in decline mode. Daily negative swing indicator like -DMI is dominating and the daily ADX is gradually up from near 27 levels. This pattern is suggesting that the downside trend strength is gradually increasing. The overall negative chart setup is showing an opportunity for short trade. Look to Sell Petronet as per levels mentioned above.
NSE:PETRONETShort
by BHUMIT-ARQ
PETRONET - Ichimoku Bullish Breakout Stock Name - Petronet Lng Limited Ichimoku Cloud Setup : 1). Today's close is above the Conversion Line 2). Future Kumo is Turning Bullish 3). Chikou span is slanting upwards All these parameters are showing bullishness at Current Market Price and more bullishness AFTER crossing 238 #This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market. # Cloud Trading # Ichimoku Cloud # Ichimoku Followers I hope you all like my analysis. Please do share your thoughts into comment section. Please give a like, share & subscribe for daily analysis.
NSE:PETRONETLong
by nikunjbhadja