Petronet looks vulnerable...Stock currently trading at 429.35 has breached the trendline ; Stop 433.5 Target 420
PETRONET trade ideas
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.
Long PetronetNSE:PETRONET
Stock is cheap compared to its Sales. This may mean that it is reasonably priced.
Stock is showing high Earnings Growth. If its P/S and PEG are also low, it may be a good buy.
Stock is reasonable compared to its Earnings Growth Potential.
Petronet Buy around 381-384, Target 395-400-410.Ascending Triangle found in Petronet LNG. Can touch near to support line and can reach the target soon.
Keep trail your stop loos.
Note - this is only for study purpose only. Consult Advisor before this
Petronet Long for day tradeIf price close above 396 you can look for enter for target of 398 with SL 394
Cheers
Ascending Triangle; Buy around 381-384; Target 395-400-410Ascending triangle found. Stock can reach again to support line and move again toward resistance.
Short Term target.
Note- This is only study purpose. Consult your Advisor before this.
Petronet Bullish Cyper pattern Target 1st 405 2nd 417Petronet Bullish Cyper pattern Target 1st 405 2nd 417
Petronet will complete Cyper pattern at 410. Long then shortPetronet will complete Cyper pattern at 410 after reaching 410 short it for target of 387
Petronet- Symmetrical Triangle Breakout- Buy SetupAs seen Petronet has broken out of symmetrical triangle with volumes on the daily chart. Also, it is bullish in the larger time frame.
Conservative traders can wait for the price to re-test the breakout levels in order to have a more favourable risk reward ratio.
CMP- 393
Expected Levels- 410, 460
SL- 365
Symmetrical Triangle Breakout on Petronet LNGPrice broke and closed above symmetrical triangle. An opportunity for long entry.
#Target 1: 425
#Target 2: 450
Happy Trading!!!
