PETRONET trade ideas
PETRONETabove the support and MA 20, MACD bullish cross over
weekly MACD is bearish, if it crosses red colored resistance, then weekly MACD may become bullish which will support further rise of the stock
PETRONET, LONGPETRONET is a very good share from long term investment Perspective . As it can be seen in week graph, that the Primary trend of the share is uptrend and EMA 12 has been moving above EMA 26 for a very long time.
Buy set up in petronet LNGPetronet LNG take a support at 240
Now on uptrend till 275
Buy at every dip.
Petronet - Symmetric triangle break outNSE:PETRONET has broken above symmetric triangle.
Go long above 259.40
T1 - 265
T2 - 275.70
SL - 251.35
Petronet LNG - Double Bottom.Double Bottom.
Trend Line Support.
Details Mentioned in Chart.
I am not SEBI Registered Financial Advisor.
Ascending Triangle looks like PetrolNet move Up tgt 274.Ascending Triangle looks like PetrolNet move Up TGT 274
SL 248 CMP 254
Petronet - LongtradePetronet is consolidating in 23% zone for long time and has formed a double top.
It has taken support at 23% and if breaks top it will give a good breakout.
RSI and STOCH and volumes are giving buy signal.
Long entry at or above 265 with SL at 257 for T1 - 270 T2 - 275 and T3 - 285 (only if 270 is broken on closing basis).
Petronet LNGFundamentals-
1)A very attractive company in the space of Oil and Gas.
2)Company is beating the sectoral growth rate, operating profit, sales etc YoY and is growing the numbers by >20%.
3)numbers like Operating profit, net sales are doubling YoY @>20%
4)Company is cleaning its debt on YOY basis.
5)One of the leading players in the sector and is second to major players like ONGC and GAIL.
Technicals-
1)Stock announced a split 2 days back and hence corrected by almost 50%.
Keynote-->Its a good stock that can be accumulated at every dip.
Positive News1--> Huge Mutual fund holding.
CMP-214(7'Th July'2017)
1st target-300(8-10 months)
Disclaimer : I am a private Investor/trader who is just expressing his views. These are just my opinions and i am not giving any kind of free or paid calls. I am using this platform to share my knowledge and learn from other's knowledge. I might be/might not be invested in my opinions.
NOTE-->I give preference to the traders/investors who encourage me by commenting and liking my ideas.
Wave Analysis ProjectectionsWe are in 3rd Impulsive wave on Monthly chart and we will likely to see the end of 3 rd wave near 343 Zone , after that we may enter a Correction which may correct till 295 and last impulsive wave 5 will lead us to 413
so lets see how it unfolds in coming days
Regards
Any Drop is long or add on Pull back I am looking this stock has Good potential to move further ahead by 3 to 5 % , which is my conservative short term view
I am already in trade and looking to add more on drop for Target of 255
Regards
Petronet - Imperfect Bearish BatOne can short PETRONET below 231
T1 - 227
T2 - 224
SL - 235
This is a Intra day setup
Note - Not a perfect bat pattern as XB and BD ratio is not perfect.
Petronet to test 245-250 soonPETRONET to test 245-250 , brokeout the range yesterday with spike in volumes.
Petronet #FlatBreakoutPetronet : Buy @ 236(50%) & 230(50%) stop 220 Target 258
Flag Breakout with rise in volume
Formation of Flag pattern in Petronet LNGFormation of Flag pattern Long @ 225 with SL below 220 Trgt 240 in Short term
Petronet: Flag BreakoutPetronet has witnessed a breakout from a Flag pattern on daily chart. The target according to this pattern is Rs 285 and stop loss @ Rs 206 on a closing basis.
Petronet is on verge of falling channel break out . Petronet is on verge of falling channel break out .
Channel length 21 rs .
