Short term sell : Petronet

alroyraj

alroyraj

Well-Known Member
#2
#2
dead_xtinct said:
Sell petronet around 120 - 122
Reason - Stock Weak on monthly,weekly and daily timeframes..
Click to expand...
Petronet keeps trying to break past the 115 levels. It briefly did but past 2 days have been negative. It will bouce back . I too was expecting it to reach 125 levels but it is sideways these days.
 
SwingKing

SwingKing

Well-Known Member
#3
#3
Well in my opinion Petronet LNG is poised for much higher levels. I don't know about short term trading levels. But overall it is positive.

Tc
 
alroyraj

alroyraj

Well-Known Member
#5
#5
dead_xtinct said:
petronet fell from 118.45 and is trading at 112 .....
6%return in 1.5 day ... Covered 65% position ..
Click to expand...
Excellent call and good timing. You managed to catch it on the days high,quite skillfully. Did not cross check all the EOD charts. Bit inconclusive in my view. Great trade.
 
D

dead_xtinct

Member
#6
#6
alroyraj said:
Excellent call and good timing. You managed to catch it on the days high,quite skillfully. Did not cross check all the EOD charts. Bit inconclusive in my view. Great trade.
Click to expand...
ACTUALLY I SHORTED X LOTS ON FRIDAY itself @ 118 WITH A PLAN TO AVERAGE WITH ANOTHER X LOTS ON MONDAY AROUND 122 LEVELS .. OBVIOUSLY THE LATTER DIDNT HAPPEN ...


Neways covered my remaining 1/3rd position today @ 111 ...
Reason: Things seem a lil positive on hourly and half-hourly charts ...and daily charts have become neutral ..
 
C

crown

Well-Known Member
#7
#7
raunakagarwal said:
Well in my opinion Petronet LNG is poised for much higher levels. I don't know about short term trading levels. But overall it is positive.

Tc
Click to expand...
namaste Raunak Sir

I also think that Petronet LNG should be watch to find long entry. 108 appears to be good support levels and if it test the support positively, long entry for target around 124 can be initiated.
 
alroyraj

alroyraj

Well-Known Member
#8
#8
dead_xtinct said:
ACTUALLY I SHORTED X LOTS ON FRIDAY itself @ 118 WITH A PLAN TO AVERAGE WITH ANOTHER X LOTS ON MONDAY AROUND 122 LEVELS .. OBVIOUSLY THE LATTER DIDNT HAPPEN ...


Neways covered my remaining 1/3rd position today @ 111 ...
Reason: Things seem a lil positive on hourly and half-hourly charts ...and daily charts have become neutral ..
Click to expand...
So, is this a retracement or stopping for breath before the uptrend resumes? What is your call?
 
A

AlokTewari

Well-Known Member
#9
#9
Petronet had made double top around 119 level & it did make sense to short it until double top is broken. Infact I feel Petronet may see 105-106 levels before it breaks double top, if at all.
 
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