Petronet LNG Entered In Bullish Trend
Petronet LNG is looking strong on weekly and daily charts the stock has broken out from its major resistance of 255 and sustaining above the resistance level. The breakout of resistance level of 255 is with high volume which is the indication of the continious upward movement of the stock.
RSI and Stochastic both are in positive zone, it is also taking support of 200 period moving averages.
Petronet is trading above the 28, 100 and 200 DMA which show strength of the stocks.
The expected target would be around 285 traders can buy petronet at cmp 264 for the target of 285 with strict sl of 249.
Above mention article only for educational purpose. Don’t make an investment without SEBI registered investment advisor recommendations