Expect upmove in Petronet, target Rs 255: Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "After a very long time we have seen that in Petronet LNG all time high which was around Rs 220 has already seen a breakout happening. So, post this breakout, it is generally very important to see whether the stock consolidates and reconfirms that movement or not. That has happened with Petronet LNG, so we have seen a continuation pattern getting formed.""Yesterday there was a follow upmove coming into this overall uptrend. So we expect this upmove to continue for a target of Rs 255 and a stop loss can be kept at Rs 224," he added.At 09:22 hrs Petronet LNG was quoting at Rs 235.40, up Rs 1.15, or 0.49 percent. It has touched an intraday high of Rs 236.05 and an intraday low of Rs 234.80.