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India Infoline recommends Petronet LNG

India Infoline recommends Petronet LNG
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First Published: Mon, Aug 17 2009. 09 27 AM IST
Updated: Mon, Aug 17 2009. 09 27 AM IST
On the daily charts, the stock gave an upside breakout in Friday’s trading session. It suggests that the sideways range is about to end. On Friday, the stock rallied by 4% confirming the bullish set up.
The daily momentum oscillators i.e. RSI and MACD are suggesting strength in the upmove. A move above Rs72-73 zone could take the stock above Rs78 in the near term.
Keeping in mind the above-mentioned observations, we suggest traders to BUY the stock in the range of Rs70-73 with a stop loss placed at Rs67 levels for target of Rs79.
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First Published: Mon, Aug 17 2009. 09 27 AM IST
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