Petronet triangle breakout.....one more wave pending in upside as per Elliott wave and once the triangle breakout then #petronet gonna fly..
once it broke up the D wave we can go for buy side and with the stop loss of c wave.....
PETRONET trade ideas
Stock Analysis of Petronet LNGPrice - 255.15 Dt. - 26-02-2021
The stock is trapped in a triangle in the weekly chart. In upcoming weeks it can give a huge breakout. Volume is also increasing from the last few weeks indicating the stock could give a breakout. RSI is neutral.
Petronet Cmp 252.25 Dated 19.2.2021Petronet Cmp 252.25 Dated 19.2.2021
Rectangle Pattern breakout
above 253.5
Giving tgt of 260-270 sl 245
It is just a view, pls trade with own risk.
Petronet, Expecting a breakout.All observations on chart.
At lower end of trend line stock has formed a reversal pattern, there a huge volumes in last to sessions.
This is a low risk entry point, on lower trend line of wedge pattern.
Check previous idea for expected breakout, but it failed and stock came down and took support on lower trend line.
PETRONET, RECOVERY IN SIGHTEntry - 254.5
Target 260 (in few days)
SL - 249.8
Thanks
Piyush Gupta
Learn & Earn
Moving in triangular patternLong shadows from downside at support triangle pattern
Looks good place to enter
Brokers target 300
---- Disclaimer ----
--------- Make your own analysis before taking position ---------
long petronet LNG above 254 on closing basicPetronet LNG :
watch for W breakout daily
good volumes
PR
Long above 254 on closing basic
first Target : 265-270
2nd target : 285-290
SL : 235
300 Target SoonAll Graph Says, reversal from Heavy trend line support, 2021- budget Support for the sector. For educational purpose only
Watch on 15 -17 Feb. Was waiting for nifty confirmation in last 2 days
Petronet - Positional BuyPetronet is looking good for Buy side on Positional Basis - Breakout is about to come
Petronet - Longing for Buy Petronet is forming a pennant pattern in monthly TF .
Pennant pattern is a bidirectional pattern but I will be placing my bets on long side as per levels mentioned on chart with Strict SL.
Any queries just comment , will be happy to discuss :)
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Good luck
RSI Divergence in Petronet on 15 min TFNote, there is a risk it may fall further till the lower support of 227-228 depending on the strength of NIFTY. Can go long if it bounces from the current support or wait to enter upon further signal.
Strong recovery from lower levelsI had discussed this in detail in the LIVESTREAM done yesterday.
Nifty dips analysed around 13800 has been achieved.
UBL was a potential long.
PETRONET shown here was also analysed in detail.
www.tradingview.com
Can watch it in the above link.
