PETRONET trade ideas
PETRONET LNGNSE:PETRONET
It has managed to close above 240 which is a good support, can be considered for long with a target of 248, 252 and being a slow mover in few days might hit 259.
**********************************************************************************************************************************************
Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
***********************************************************************************************************************************************
R-0032 Short Term Cash Buy PETRONET @267.00-269 SL 262.3 TGT 279Short Term Cash Buy PETRONET @267.00-269 SL 262.3 TGT 279
TK cross over at 265 so go long on short term NIFTY in downtrend but this stock is in green.
Both Fib and Channel travel confirms the target of 290 to 295.My view is bullish with target of 290-295
PETRONET LNGLast session saw heavy and unusual volumes in this script with short covering and it closed above it high of February.
It can be a long with sl of 270 for a target of 276, 280 and 284, the aggressive ones can bet for 290 and trail their sl.
Risk reward is too good for trade.
Petronet- FlagNSE:PETRONET Petronet just broke the flag and now ready to touch high... Targets on chart...
PetronetBuy came a few days . But did not take as 50EMA was below 200EMA
Now 50EMA crossed 200 EMA. Prices were in sideways last few days..
So again a buy above rectangle bos 270 levels for a 40 to 50 Rs move.
On downside will byt if finds support at 200 EMA.
Sell below 200 EMA on close open basis.
Petronet: Trend Decision Build-upAt large the stock is in a continuation phase currently and is expected to consolidate further given its possible pennant structure. However, the supply zone has been tested multiple times in the last 7 trading sessions combined with higher lows at each test. This may cause an untimely break in the following trading session which in turn will provide a good bullish momentum. On the other hand, if the intraday support above the demand zone is breached upon swing failure at the currently marked resistance, the stock will surely present a scalping opportunity at the bare minimum. Additionally, any test in the demand zone is likely to continue its present bearish trend.
The dual indecisive but extreme technical possibilities are also mirroring the fundamental image of the company's underlying commodity i.e. energy. Hence, it provides an additional conviction to this idea.
Higher Low in consolidation range....LONGPetronet is in clear uptrend on weekly TF.
On Daily TF, it is consolidating in a range. Now has made a higher low with a strong Bullish Engulfing yesterday.
I am long. Target has been set as per classical charting rules i.e. equal to max width of ascending triangle.
[3bb] Petronet Short IdeaPetronet is making rounding bottom pattern and hence is a D buy.
But, it is sell in 15m. Short with strict SL
