Breakout out on the note of a very high volume though wick is visible range of the candle is wide and the volumes are stronger. Also the relative strength is sloping upwards.
Very Strong Breakout for Petronet on account of very high volume. Relative strength sloping upwards indicating the stock is doing better compared to broader market index over the last few weeks.
Go Long after it breaks out @400 with stop loss as 340. Ideal entry should have been at 276 as per Relative Strength bullish divergence or a safe entry at @ 330-350 according to Fibonacci retracement.
