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trendline breakdown, 50 sma breakdown approaching support zone short target 255
!!PAIR TRADE PETRONET-VS-ONGC!! EXECUTE THE FOLLOWING ONGC DEC FUT BUY@126.5 QTY:3750 CASH (DEL): BUY @126 QTY:2745 PETRONET LNG DEC FUT SHORT @273.5 QTY:3000 !!EXECUTE BOTH TRADES!! !!STATISTICAL ARBRITRAGE!! !!HOLD FOR GAINS!! !!FOLLOW UP-FOR UPDATE!!
NSE:PETRONET Petronet is moving in the ascending wedge pattern, respecting the lower base of the wedge, every time it touches, it bounces up from it. It has done that 4 times now. As it has broken the upper base of the wedge pattern and closed below it after days of consolidation. It seems that, it will correct till 277 level taking support of the 50% fibonacci...
PETRONET LNG is displaying a ROUNDING BOTTOM CHART PATTERN. Stock could be on the Upmove from here. Target 1 : Rs, 382 Target 2 : Rs, 459 Target 3 : Rs, 535 Stop Loss : Rs. 279
Looking for Buy above yesterday High it's only for stock ideas...trade with your method
Traingle set up in the Stock can go either way. Once key levels break we can take position.
1) Ascending triangle formed wait for a clear breakout 2) < 255, T1 - 250 3) > 261, T1 - 270
We are at an important juncture EOW X for expanding flat of W 4 of cycle degree....lets witness some lower levels
PETRONET LONG ENTRY 246.70 , STOP-LOSS 244.70 , TARGET PRICE 253 NOTE : CONSULT YOUR TRADING ADVISER BEFORE TAKING ANY TRADING DECISION.