Buy Petronet LNG; SL Rs 154: Agarwal

Shubham Agarwal, CMT, AVP - Sr Technical Analyst of Motilal Oswal Securities, has adviced traders to buy Petronet LNG with a stop-loss of Rs 154.

Agarwal told CNBC-TV18, "GAIL India is a stock which we have not been very keen about, because if we see the momentum it is very dicey in that and we don’t see much movement coming out there."

He further added, "In Petronet LNG two days back we have already seen a bottoming out pattern that is taken place which can be termed as a Doji which is providing strong support for the stock around Rs 154 level. So, with that stop loss one can look for buying that scrip, because if we take a long term chart of Petronet LNG that is the stock which is already there in a longer term uptrend and I think such pullbacks if happen on these kind of a chart can be utilized as a buying opportunity.