Petronet LNG - Good potential to move up
Study - (5th Jul) - PCR - 0.5 bullish; OC looks bullish as call unwinding happened at 290 but long position observed at higher level. Stock Huge resistance at 280 of 3L OI. 3rd July huge stock offloading observed due to short covering.
Given a BO from the channel as well as above the trend line. Weekly candle is extremely bullish. RSI has also given breakout and is extremely bullish. More short covering will be observed once price sustained above 275.
GOLDEN CROSS OVER has happened.
Keep it in radar as probability is on higher side for up move.
*This chart is for educational purpose only.
Given a BO from the channel as well as above the trend line. Weekly candle is extremely bullish. RSI has also given breakout and is extremely bullish. More short covering will be observed once price sustained above 275.
GOLDEN CROSS OVER has happened.
Keep it in radar as probability is on higher side for up move.
*This chart is for educational purpose only.
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