Petronet LNG - 6 years of range breakout

After the bull run, stock retrenched to 61.80% fib level and consolidated for 6 years.

The range breakout visible in chart, aptly supported by volume and technical indicator.

Stop Loss below 20EMA; Target 1 Rs 415

Weekly Chart
After four year of consolidation, the stock given a descending triangle breakout with breakaway gap.


Technical Chart
Golden crossover of ema 50 & 200 with breakout volume, certainly confirm the bullish strength in stock.


Thanks
-aj

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