buying opportunity in PETRONETpetronet looking good for buy here for 1to 3day,RSI positive divergence
buy at 208/209,sl~206 for tgt~215/219
PETRONET trade ideas
Positive RSI Divergance... { Bullish }Everything mentioned on chart...
Note: Do your own study before making any position...
Fake BreakdownChart explain everything
Range broke down with low volume, RSI touches lowest trendline, Reversal candlestick at support level.
hence trend will reverse from here & will break above resistance zone which is 225-230.
Target is 240,
Position activate above 212.
Down in 15 min but bullish in long termPetronet looks to be taking support on daily trend line around 215 levels... expect the slow down trend to reverse soon
Petronet trading ideaIt appears like petronet is going through complex corrective
pattern. if true, then next move should be up, target 225.
PETRONEL: BULLS WATCH Series #1PETRONEL: LTP @ 217.50 (Cash), @ 218.50
Why BULLS Prefer this Stock as SWING / Positional / Intrraday Trade?
#1. In ICHIMOKU Cloud, Tenkan-Sen (@ 215.81) Turn from DN to Flat.
#2. 20SMA (@ 216.63) < CLOSE (@ 217.50) < 50SMA (@ 217.67)
#3. Last Trading Day Crossed BASE Line from BELOW.
Other Technical Indicators Showing Strength.
Go LONG: Aggressive not Above +0.50%
Best BUY: @ 215.20 to @ 216.35
Strong above @ 219.25 .
TGT: @ 220.15, @ @ 222.35, @ 225.50 - @ 227.25 (HZ), @ 229.50
More on Chart.
SL: 211- (by Closing)
For FnO Traders :
GO LONG with Hedge with nearer PUT Option.
As premium is 1.00 Point,
TGT: Add 0.70 to 1.20 Point to Cash Price TGTs.
Query accepted for more FnO Strategy.
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Disclaimer: Only For STUDY.
For taking Trade Decision Consult Financial Advisor.
Descending Triangle on PetronetLNGDescending Triangle pattern formation on petronet. According to Descending Triangle will break only on one side which is on downside. It should not break on another side (upside) but if does, it will consider as False Breakout. In Descending or Ascending triangle, some of the times false breakout may happen so need to wait until the price to break.
Trade:
Short below - 423.75
Target 1 - 414.75
Target 2 - 406.50
Stop Loss - 430.75
Note : Don't trade until the price to break the triangle.
PETRONETstock was in up trend
went into a trading range
now in verge of breaking down from that range
on can look into this stock below today"s low
for a target towards 420/415
with sl placed around 430/431
PetroNet : Fueling it Up...Let's fill in our tanks and make ourselves ready for upside Breakout in Petronet. Actually I'm not interested in the downside Breakout, if you zoomout n see there can be shark pattern formation, haven't checked it though by drawing just saying by the perception I get from Petronet. You can try for that shark also if interested but simple channel upside break can be good n better :)
Petronet LNGA clear Bullish Engulfing candle with good volumes, can perform really well going forward keeping a SL of 430.5 on closing basis!
Petronet - H&S in th makingThe stock failed to break through the traingle with resistance at around 448-450 levels and now looks like a break-down is on the cards. H&S pattern shall get confirmed once 424-25 level is taken out. Keep a watch !!
Petronet longGo long after breakout with high volume and MACD crossover.
Target is height of the range.
Targets and SL in chart.
PETRONETstock is trading narrow
can expect a range expansion towards 449/452/455
with sl placed around 438
Petronet May Breakout Of A Rectangle Channel PatternTargets : 399-378 Sell range : 427-420 Stoploss : 452 Duration : 3-4 weeks
Rationale :
The attached daily timeframe chart of this Oil drilling & Exploration sector participant (PETRONET LNG) is indicating a beginning of a sharp weakness in the stock price.
The stock has hit 52 Week high on 22-May-17, this gradual upmove of the last 4-5 months seems to have completed, as the stock price has started to show weakness from the highs of Rs 459 during this month.
Initial evidence of a beginning of declines is visible in terms of downside breakout of the immediate support of ascending trend line (red dashed uptrend line) around Rs 435-436
On Daily charts, “Bearish engulfing” candlestick pattern was formed by Petronet as on 22/05/2017, and a “Three outside down” candlestick pattern was formed by the stock on 23/05/2017 with rise in volumes.,The above said pattern is a bearish trend reversal pattern of strong reliability. It is formed at an uptrend or at a possible resistance.
Technical indicators are currently giving negative signals as the 3 days exponential moving average has crossed below 13 EMA after 9 days Momentum indicators like the 14-week RSI are in decline mode.
Daily negative swing indicator like -DMI is dominating and the daily ADX is gradually up from near 27 levels. This pattern is suggesting that the downside trend strength is gradually increasing.
The overall negative chart setup is showing an opportunity for short trade. Look to Sell Petronet as per levels mentioned above.
Petronet looks vulnerable...Stock currently trading at 429.35 has breached the trendline ; Stop 433.5 Target 420
Petronet LNG- Symmetrical Triangle, Cup and Handle & now ChannelPetronet LNG earlier broke out from a long Symmetrical Triangle in January 2017.
Then it went on to form long Cup and Handle pattern. It broke out of Cup and Handle pattern in April 2017.
And now it is trading in an upward Channel. The stock is trading at Channel support range 420-425.
The risk:reward ratio is highly favorable and is a high probability trade.
Stop loss can be placed at 400 and 1st target can be looked at 480 levels. 2nd target would be at 520 level.
PetroNet Short Term Holding Its very interesting price action , the Price did brake out form long consolidation range box and tested again the Top Brake out price and started moving up ward , but you can notice the move after retesting was very excited and started moving with gap up on every day basis , here the institutional will try to take their profits to control spike of the price , so your question is why ??
the simple answer is if price starts spiking up very fast then there will be very less time for institutional to sell their stock to week hand buyers , and probably the price will fall drastically on some point , to avoid such drastic price failure where the institutional will occur huge loss in case that happens so they of fen enter for profit booking when the price shoots with gap up on every day basis , if you are day trader must understand the slow up ward move is always strong move and sudden spike move is always risky and will be painful if price is marked down ,
The trading strategy here is Now we have to wait the price to reach up to 410 and look for reversal on strong volume , if price revers and starts moving up you can look for buying opportunity with stop of 400 Target of 440/465 for short term holding
Regards
Simple but Powerful !!! (ABCD Pattern)Hi,
AB=CD pattern completed on Petronet chart which gives a nice short setup.
Please refer chart for more details.
Trade with Care
Gulz.
Short Term Cup and Handle Break outIt has been observed in daily chart cup and Handle break Out watch near 410/420 for Target 490+ stop loss 400.
HnS Breakout in PetronetHnS breakout in Hourly chart within a bigger triangle. Should target 405 going forward.
