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Traders call: Buy Petronet LNG for target of Rs 65

This article was posted on May 12, 2009 and is filed under Press Releases

MUMBAI: Arihant Capital Markets is bullish on Petronet LNG and has recommended traders to buy the stock for target of Rs 65.

“The 14 days moving average of Petronet LNG is at Rs 51. On the daily charts, the stock is in buy on RSI and its 14-days RSI is currently at Rs 89 (above 50 is consider to be in strong hands). Petronet is looking strong on daily chart and has formed a symmetrical triangle pattern on EOD chart. One can buy Petronet LNG at Rs 55.50 with closing below stop loss of Rs 49 for a target price of Rs 65,” said Arihant Capital Markets report.

Source: Economic times.

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