Price and trend forecast of PETRONET for Tomorrow, Weekly, Monthly
Petronet LNG Limited
Symbol: NSE:PETRONET
ISIN: INE347G01014
350.90
As on 2024-10-17
PETRONET's Today's Performance
Petronet LNG Limited started the day by opening at 356.00 today 2024-10-17. Its shares reached a high of 356.65 and dipped to a low of 350.15 in intraday. When the markets closed, PETRONET’s stock price settled at ₹350.90 per share. Also check out its key support and resistance levels.
PETRONET Buy/Sell Targets
Tomorrow, sell PETRONET when its price reaches ₹ 350.90 with a stop-loss order at ₹ 354.15. You can set the target price as ₹ 347.65 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.
In the sections below, we will discuss detailed share price target of PETRONET for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for PETRONET
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 355 |
| Tomorrow Down Target 2 | 359 |
| Tomorrow Down Target 3 | 361 |
Important Levels for PETRONET
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 348 |
| Tomorrow Up Target 2 | 346 |
| Tomorrow Up Target 3 | 342 |
Based on where the stock opens tomorrow, if PETRONET opens on a positive note, our first target will be ₹355. If Target 1 is achieved, we will aim for Target 2 which is ₹359.
But if PETRONET falls below the average value of ₹352.57, you can enter a sell side position with target number 1 - ₹348 and second target - ₹346 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.
Daily Volume chart of PETRONET
Looking at PETRONET, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.
In terms of its price, PETRONET has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for PETRONET is moderate bearish.
Tomorrow's Volume based share price Forecast for PETRONET
PETRONET's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -5%.
Reversal detection for PETRONET
PETRONET may trend may continue to be bearish since stock is making lower low and we can get target of ₹357 in morning tomorrow
| Target 1 tomorrow | 355 |
| Target 2 tomorrow | 357 |
| Target 3 tomorrow | 359 |
Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.
Combine this trend forecast with PETRONET's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.
Based on where the stock opens tomorrow, if PETRONET opens on a positive note, our first target will be ₹354.98. If Target 1 is achieved, we will aim for Target 2 which is ₹359.07.
But if PETRONET falls below the average value of ₹352.57, you can enter a sell side position with target number 1 - ₹348.48 and second target - ₹346.07
PETRONET's Weekly Targets
| 1st Up Target | 358.15 |
| 2nd Up Target | 365.40 |
| 1st Down Target | 346.90 |
| 2nd Down Target | 342.90 |
As the week for PETRONET ended on bearish sentiments, we can expect further continuation of this sentiment. PETRONET's initial target will be 358.15 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 346.90 in the upcoming week.
Weekly OHLC Values
| Open | 356.00 |
| High | 361.40 |
| Low | 350.15 |
| Close | 350.90 |
Week for PETRONET started with an open price of 356.00, and the close was at 350.90. PETRONET reached the highest of 361.40 and dipped lowest up to 350.15 last week. This indicates a bearish sentiment for the week.
PETRONET full month swing targets
| Monthly Up Target 1 | 369.40 |
| Monthly Up Target 2 | 376.65 |
| Monthly Down Target 1 | 335.65 |
| Monthly Down Target 2 | 320.40 |
Targets of ₹369.40 can be expected to be reached in the coming month. Once PETRONET achieved this target, we can aim for the next upside target of ₹376.65.
PETRONET if fails to hold upside, down targets of ₹335.65 and ₹320.40 can be achieved by end of this month.
For complete three weeks if PETRONET is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.
Related Stocks in the Same Sector as PETRONET
| Symbol | Name | Industry |
|---|---|---|
| RELIANCE | Reliance Industries Limited | Oil & Gas Refining & Marketing |
| ADANIENT | Adani Enterprises Limited | Thermal Coal |
| ONGC | Oil & Natural Gas Corporation Limited | Oil & Gas Integrated |
| COALINDIA | Coal India Limited | Thermal Coal |
| IOC | Indian Oil Corporation Limited | Oil & Gas Refining & Marketing |
Summary
PETRONET is expected to reach the target of 354.98 in tomorrow's trading session.
After achieving the initial target in PETRONET, we will aim for higher targets of 359.07 tomorrow.
However, if PETRONET starts to trade below ₹352.57, then we will shift our focus to the sell side and aim for down targets of 348.48 and 346.07.