PETRONET trade ideas
PETRONET Ascending trianglePETRONET has given a breakout with good volume. Will be good for Short Term.
Note - These are not buy or sell recommendation. Kindly do your own analysis before investing your money into any kind of financial instrument.
Petronet LNG - LongStock has uptrend
Consolidating in rectangle pattern since last week
Can be seen good upmove if sustain above 280
Petronet LNG: Stock to add to the kittyFundamental 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 nation
5. Predicted force majeure wins on account of cancellations
Technical cues:
1. Gradual upward move along the lower trend line since the fall in March 2020
2. Big spike of green candle to reach the time tested sticky zone of 272-278
3. Volume spike indicating a strong and sustainable up move
4. MACD in day TF looking for a steep crossover
5. 50 EMA cutting 200 EMA from below. Price > 20 EMA > 50 EMA > 200 EMA whilst all EMA facing upwards.
Buy: 270; Target: 300 (Short term) SL: 250
With cluster of positive news and market sentiments positive, it is a good buy even for long run as the company gives regular dividend.
Since the stock is good buy and a good addition to the portfolio in the long run, stop loss need not be strictly obliged.
However, in case of swing trading with tight liquidity - SL can be placed around 250
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.
PETRONET BreakoutVery Strong Breakout for Petronet on account of very high volume. Relative strength sloping upwards indicating the stock is doing better compared to broader market index over the last few weeks.
Petronet - Bullish breakoutNote: 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.
Petronet LNG ( Positional Trade )PETRONET LNG { Positional Trade }
Chart structure looking good , expecting strong move after the range bound consolidation !
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DISCLAIMER
{ Educational Purpose }
All investments involve risk.
Please Do your analysis before initiating any trade
GOOD LUCK !
Petronet Risky Setup !TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
June Series Option can be tried.
Wait for entry setup, if available then Long/short.
Reward is 7-8 Times
PETRONETCan enter with a sl of 257 for a target of 266 269 and 271
If goes below 257, can be a short for 252 and 247 below which 242
PETRONET LNG - Ready to Blast!!PETRONET LNG
PETRONET is trading in an upward trending channel and has formed a very narrow trading range.
RSI is extremely Bullish.
ADX supports an Uptrend.
DAILY trend is BULLISH as well.
Once the prices breakout of the channel we might a swift upward move towards 297-300 Supply Zone.
There is strong support at 245.
KEEP AN EYE!!
***this is my personal view. Please take advice from your financial advisor before investing.
petronetprz1 = 267.7
prz2 = 272
sl = 280.2
t = 257,238,225
ABCD also forming at 279.1
resistance around 276
Highest OI 270 CE followed by 260 CE
Patience is the secret-"Patience Pays"if positive sentiments
target1 267
(breakout)
target2 277
tip: Be patience
PETRONET LNG - NR7 PATTERNPETRONET LNG
The stock has formed an NR7 pattern.
RSI is in strong uptrend zone.
***TRADINGEDGE TIME-TREND INDICATOR IS BULLISH***
***TE BANDS ARE IN GREEN ZONE***
Once the price breaks the high (263.9) of today's candle, we might see 270 & 275 price points.
KEEP AN EYE!!
#tradingedge_academy #SMTA_institute
***this is my personal view. Please take advice from your financial advisor before investing.
PETRONET - 260 (Daily Chart)Making HH and HL on chart.
Vol. is good and high.
RSI 65.
Above 200 and 50 EMA.
Targets on chart for short to medium term.
GO LONG WITH SL AROUND 260
Petronet LNG - Harmonic Bearish ABCD Pattern - ShortPetronet LPG Pattern evidence Harmonic Bearish AB=CD Pattern.
Go for Short @ 260.10
Target 1- 244
Target 2 - 219
SL - 270
Disclaimer: Kindly do your own analysis before executing the trade
Petronet stockIn my opinion , you may soon see a corrective wave in this stock.... Bearish trenf for short time
PETRONET Bearish Harami Sustained above 237 will lead the price to reach the target of 241/245/249/ trail sl sl 229.3
Sell below 219 if sustained then 214/212/206 is the target with trail sl of 229.3
**Educational purpose only
