Petronet LNGPetronet has been facing resistance around 230 levels from last many days.
Now it is looking ready for Breakout. RSI is also hovering above 60 levels.
SL - 220
Target - 247
PETRONET trade ideas
PETRONETTrend reversal signs
broken channel
Volume is more than Avg volume
Bolinger band upper band touched
if price closes above 20 EMA with a strong note we can see some rally
MACD Buy signal
RSI > 58 if > 60 that will added advantage to see mometum
Simple Trade Setup | PETRONET LNG | 06-09-2021NSE:PETRONET
Observations:
1) On Daily Time frame, if you can see that level 230 is working as critical level since long time. It was working as both support and resistance since long long time.
Please refer below chart : Daily time frame.
2)Also, on Daily Time frame you can see that it has closed above 100DMA but still below 200DMA. One good thing is that it has broken and taken good support from 21DMA.
Please refer below chart : Daily time frame.
3) Further on Daily time frame it is forming rounding bottom pattern. And neckline/breakout level for the same is 230 level.
Please refer below chart : Daily time frame.
4) On 15min Time frame we can see that since 17 Aug it is getting good support from the accending parallel channel.
Please refer below chart : 15 min time frame.
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For POSITIONAL trade one can take safe long position only on sustainable breakout of 230 level. SL will be 218 and Target will be 250/260/270 in short/mid term.
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Trade Setup for Date 06-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Ascending Triangle in Petronet LNG Hello traders ,
If you guys go through the “petronet’s lng “ chart , 30 min time frame … you will recognise a triangle or we should call it a “opportunity” to buy or trade in it .
But as of now and also as a safe trader, i would patiently wait for it to come above 232 level and then i will leap on it
Petronet looking ripe for reversal .. Bullish SharkPetronet completed Bullish Shark Pattern on Daily time frame with the MFI also giving a trendline breakout. Just a matter of time when it starts its upward journey with 1st Target of around 234 and the 2nd Target of around 252 with the Stoploss being around 202 in Medium Time Frame
Petronet Buy @227.60, Tgt 270, sl 211The stock has touch 211 three times and now it's more likely to go up around 270, if the stock breaks the 270 resistance level then the stock might go up further and if its goes down and breaks the 211 support level then the stock might go down.
This analysis is for educational purposes
I hope it helps people to gain profit in this stock for the short term
PETRONET Swing Trade Idea#PETRONET - Swing trade is visible in this stock as strong candle formation has been observed in the previous trading session. Buy in the range of 230-231 with SL below 226 for targets of 243, 247. If volumes exist around 247 level, then trail for 253. 236 can act as intraday resistance. #swing #positional
Petronet LNG Limited - Are bulls in ?NSE:PETRONET has been trading in the range of 210-280 for about 1 year. At the current moment, it looks like NSE:PETRONET has taken its support over T2 while crafting a falling wedge pattern ( T1 & T2 ). It has broken another trendline T3 with a good volume that increases the confidence of the bulls.
One may initiate a long position with a stop loss below 211 while focusing on the other energy stocks and Nifty Energy.
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PETRONET levels ...23/08/2021 (D candle)PETRONET complete the pattern and breakout the previous resistance...so its more possible to reach the targets as given in chart at short term
Petronet moving up from support Petronet moving up from support line. Lets see whether it can break the upper resistance this time. Has some positive news.
The Inside candle formed on the daily chart The inside candle formed on the daily chart 5% upside is possible
Swing/Short Term Trade in Petronet LPGSimple Price Action Analysis without Indicators:
This is a weekly chart. We can observe a long term demand zone spanning over several years at the levels of 210-220. This is a strong demand zone. In addition, we can observe a falling Resistance Trendline. The buy and sell levels along with SL has been given in the chart. Very safe trade.
A RR ratio of - 1:2
Disclaimer:
This recommendation is for educational purposes only. Please consult your financial advisor before taking any buy/sell decision.
#Petronet cash : Looks good above 225.10#Petronet cash
17.08.2021
Looks good above 225.10
stoploss 218
Tgt 234-235/245
Cmp 223.65
PETRONET - BuyStock broke out of trend line with a good volume.
It looks like down trend is done and ready to move on.
Flag pattern breakout in 15 mins time frame PETRONET is showing Reversal in daily candle and also Flag pattern breakout can be seen in 15 mins time frame!
Petronet LongPetronet Long
RSI convergence
Buy on close above 215
SL- 210
Target- 223, 233
Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
#11082021 #PETRONET LNG #Double Bottom #11082021 #PETRONET LNG #Double Bottom
Divergence with RSI
CMP 213
T1 - 230
T2 - 245
Possible Reversal From Support Buy @215
Target - 240++
SL - 203
Buy only when it forms positive(bullish) candle at this point.
Petronet buy Buy from 215.6 to 214.5
easy target - 222
tg2 - 225
Disclaimer : This is my personal analysis for study purpose not intended for trading
Petronet again at buy levelBuy from cmp 217.15 to 215.5
easy target 222
tg2 - 230
Disclaimer : This is my personal analysis for study purpose not intended for trading
Petronet LNG Ltd @ Demand ZonePetronet LNG Ltd @ Demand Zone
StopLoss @ 213
Target 1 @ 234
Target 2 @ 247
