The short-term outlook is bullish for Petronet LNGThe stock has been moving up since the last week of March. A resistance coming up at ₹293, which can be tested this week. However, the price action on the chart indicates a high chance of this resistance being broken. Such a break can boost the bullish momentum. Petronet LNG stock price can surge to ₹315 over the next two to three weeks. Support is at ₹280. When the stock breaks above ₹293, that level will become a support. Traders can go long now at ₹288. Accumulate on dips at ₹282. Keep the stop loss at ₹273. Trail the stop-loss up to ₹292 as soon as the stock moves up to ₹296. Move the stop-loss further up to ₹298 when the price touches ₹305. Exit the stock at ₹313.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)