PETRONET LNG Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock moving in a up channel formation and also stuck in a range, Strength expecting once closes above 190.50. (Updated On 27th August 2014, Wednesday).

PETRONET LNG

• As per previous report published on PETRONET LNG stock failed to break its range but showed minor weakness after that in its range only. (Click here to see previous report published on PETRONET LNG).
• Now daily chart indicates that stock is still moving in a up channel formation, as long as it is moving in its channel formation it will be favored by bulls. But if it breaks it on down side then we can see some sharp weakness.
• As per graph no2. stock is moving in a range bound zone, Close watch once Petronet closes above 190.50 and holds above then stock will favor bulls for  next few trading days till then trend not clear and will zig zag.
• Intraday stock tips , close watch when Petronet starts tradinig above 190.50, if holds above during market hours then intraday bulls action is expecting.
• As per graph no3, stock is moving up from 50 days moving avergae, this will favor bulls as long as stock holds above, once closes below 50 DMA then Petronet will show first sign of weakness.
• Suggested Reading - TITAN facing strong support at current levels, stock to favor bulls if holds its support.
• As per graph no4 if stock closes above its range and moves up then will find next strong resistance around 204 its 161.8% fibonacci retracement. Close Watch.
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