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.
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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