PETRONET LNG AnalysisNSE:PETRONET
Enter trade either Long or short based on daily close deviating the pennant.
Targets are as shown in image
PETRONET trade ideas
Petronet short term view- BearishShort opportunity with minimum stoploss. Refer chart
Vijayaraghavan.K,
Kovilpatti.
3LR /UP Sloping Channel Price action has nicely formed UP Sloping Channel which is quite easy to trade. RSI above 50 is also confirming the decision and today's bar has made a 3LR reversal pattern. One can take the long position as the details given below
Entry 216
SL 208(closing)
Target 232
Risk/Reward Ratio 2,67
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
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
