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Last Updated : Dec 17, 2018 11:23 AM IST | Source: Moneycontrol.com

Buy Petronet LNG, target Rs 230: Sameet Chavan

We recommend buying for a positional target of Rs 230 in the coming days. The stop loss can be placed at Rs 212, says Sameet Chavan of Angel Broking.

Moneycontrol Contributor @moneycontrolcom
 
 
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Sameet Chavan

Since the last three months, Petronet LNG has been oscillating within the boundaries of a ‘Triangle’ pattern. With Friday’s strong move, the stock finally managed to confirm the breakout from the same along with higher than average daily volumes.

In addition, the RSI-smoothened oscillator is showing a positive crossover, indicating this move to extend in days to come. Thus, we recommend buying for a positional target of Rs 230 in the coming days. The stop loss can be placed at Rs 212.

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Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on Dec 17, 2018 11:23 am
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