PETRONET trade ideas
PLNG trend analysisAfter trend reversal, PLNG moving in upward direction.
Entry - 233~236
TGT 1 - 260 in 2 weeks
TGT 2 - 275 in 6 weeks
SL - 229
Petronet - Bearish harmonic setupNSE:PETRONET has formed bearish harmonic pattern.
Short it below 227.90
T1 - 219.55
T2 - 210.25
SL - 236.50
PwtronetPetronet has been in corrective phase for last 9 months. After posting an all time high of 275 in Nov' 17, the stock has corrected almost 25% in last 9 months. Last month the stock formed a perfect Doji Star on monthly chart. This month it is likely to close above last month close which will result in Bullish Engulfing candlestick pattern. Also the stock is consistently taking support around 21 months moving average. All these technical observations indicate that the stock is likely to resume its uptrend & can move towards 300 in coming 2-3 months. So the stock can be bought in the range of 225-235 for target of 300. However if the stock closes below 219 this month, Bullish Engulfing candle will not form & candlestick analysis will get negated.
PETRONET Weekly - Convincing breakout?PETRONET Weekly - Convincing breakout?
Last week was a huge bullish candle.
Find levels on chart
Head And Shoulders / Triple Bottom Pattern BreakoutNeckline broken on good volume today.
RSI showing divergence.
Good long opportunity.
SHORT SWING TRADE IN PETRONETSHORT SWING TRADE IN PETRONET
AUGUST FUTURES
SHORT@230
STOP@233
TARGET@223.5
LOT:3000
QTY:!
Long There is Good Chance it might go one more move up , Look for Bullish brake out on 1 Hour candle , Look for entering on Brake of last 1 Hour candle high , this might go in single day , and might surprise
Look for brake out today
Last Move some scrip are really a big shit , i dont like this scrip much , but its moving for last ride before entering in Correction , Look on brake of today high and Go long with your own risk to reward calculations , and it will high likely challenge 228+ and then turn or halt the move , but dont try to sell it in Futures we still dont know weather it will brake strong or weak , but this small trade is possible
Head and shoulders in formationIts forming a hns sort of pattern. Its forming the right shoulder. We can go short if it forms and breaks the neckline.
