stock is taking support from trend line and now ready for big move ..
If it cross 13000 and sustain then so bullish ...BULLISH
on 1hr time frame we can cup and handle pattern formed
And it is also forming bullish channle pattern
Stock Tested the levesl of 12999 on NSE and with some correction or we can say Profit booking it is again ready to Fire...
My own next Target is 13000 Second target is 15000 and if sustain above this we can see again big targets like 20k ..
You can check my previous idea about this script target of 13k hit like 1 min Spike ... but not sustained and from that...
#PETRONET
NSE: PETRONET
CMP 247
Target : 271
SL 238
Time Frame < 2 months
Can hold the stock for longer time after part booking.
Factors:
Trend Following
Inverted Head & Shoulder Pattern.
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE...
As we can this stock break its 5 Years All time High and there is some news in this stock regarding Bonus,Splits,Dividend company Giving to there share holders and we can see targets of 13000++ in coming week.
Buy for Quick Target of 10500...then 13000..
