PETRONET 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.
Share has made Double Bottom (shown by black line). After forming Falling Wedge Pattern (shown in graph), Share has made a break out with very good volume (indicated in green box). EMA 12 has also came above EMA 26 (shown by green and yellow lines). It is a very good share for long term investment perspective.
Share is making ASCENDING TRIANGLE PATTERN (shown in graph). Last Candle made by share was MARUBOZU (shown in green box). Share price has also been increasing in a very good volume for last few days. It will reach 146.
Share has made CUP and Handle pattern (shown in graph). Last two candles made by Share in day graph, formed Bullish Engulfing pattern (shown in blue box). EMA 12 days has came above EMA 26 days (shown by green and yellow lines). One can long share for the target of 53 with stoploss 39.
Share has made break out from Falling Wedge pattern. Falling Wedge pattern is shown in highlighted area. Last Candle made by share was Marubozu (shown in black box) with good volume. RSI is also supporting Price rise (shown by blue lines). Share is Bullish now.
TRIPLE BOTTOM pattern made by share can be seen in graph (by blue line). GAP UP OPENING made by share ,3 days back, is indicated by black arrow. GAP UP OPENING shows that share is in demand. Last candle made by share was MARUBOZU (shown in blue box). Share price has been increasing in very good volume for last few days. EMA 12 days has also came above the EMA 26...
As shown in graph, Share has formed FLAG pattern with fibonacci path retracement of 0.2. Share has also made Double Bottom (shown by black line). Share price is expected to rise after formation of indicated patterns.
It can be seen in blue box that Share has formed Marubozu pattern. The candle forming Marubozu, also did Bullish Engulfing of former candle. During the formation of these patterns, Share has increased in comparatively good volume. EMA 12 days is about to cross and go above EMA 26 days (shown by yellow and blue lines).
Share has made Flag Pattern (shown by green and red lines) with Fibonacci path retracement of 0.6. Piercing pattern is also formed by share (shown in black box), which indicates upcoming uptrend. After forming Flag followed by Piercing pattern, Share is expected to continue its path of uptrend.
Share is making Rectangle pattern, while moving sideways in a channel (shown in black box). Share has already made Triple Bottom in the rectangle pattern. In last four candles, share has made Inverted Hammer Pattern followed by Three White Soldiers (shown in blue box). All these Patterns predict Bullishness. It will reach 600.
Share has made Rounding Bottom (shown by blue curves). After forming Rounding Bottom, Marubozu was formed (shown in black rectangle). EMA 12 days is also moving above EMA 26 days (shown by green and red lines). All these points indicate strong uptrend.
Share has made a break-out from Symmetrical Triangle Pattern (indicated in graph) with very good volume. EMA 12 days has also came above the EMA 26 days (shown by green and red line). Share price is expected to increase.
Share is about to make break out from symmetrical triangle (shown in graph). Last candle of graph is Marubozu (shown in black box). EMA 12 days is also moving above EMA 26 days (shown by yellow and green lines). Share price will rise.
Share has made CUP & HANDLE PATTERN (shown in graph). Last two Candles has made Bullish Engulfing pattern (shown in black box). EMA 12 days has also crossed EMA 26 days (shown by yellow and green lines). Uptrend is started. Share price will reach 140.
Share has formed Double Bottom (shown by blue line) and share is about to break the channel. Share has formed Marubozu pattern (shown in blue box) with good volume. EMA 12 days has also crossed EMA 26 days and came above it. All these things indicate that share is bullish now.
After downtrend, Share has made Marubozu Pattern followed by green candle (shown in blue box). While making these two candles, share has increased in a very good volume. EMA 12 days is about to cross EMA 26 days (shown by blue and yellow lines). Share is Bullish now.
Share is at its pivot point. It will either continue to go down or will make bounce back. SELL BELOW 420 TARGET 417 STOPLOSS 423 BUY ABOVE 425 TARGET 428 STOPLOSS 422
BUY ABOVE 169 TARGET 171 STOPLOSS 167 SELL BELOW 164 TARGET 162 STOPLOSS 166