PETRONET - IntraDay Trade Analysis

Last Updated Time : 02 Aug 25, 12:58 am

IntraDay Trade Rating: 2.8

PETRONET offers a mixed intraday setup—while its fundamentals are solid and volume is currently elevated, its technical indicators suggest limited momentum with caution warranted for short-term trades.

📊 Technical Overview

RSI: 36.8 → Near oversold; potential bounce play, but lacking strength.

MACD: -0.84 → Bearish signal with declining momentum.

Volume: 26.71L vs Avg 22.82L → High intraday participation; could indicate speculative interest or reversal attempt.

🧭 Current Price Action

Price: ₹293

Trading below both DMA 50 (₹304) and DMA 200 (₹309) → Bearish bias.

52w Index: 20.2% → Weak relative strength over the year.

Quarterly Profit Decline: -23.8% → Sentiment may be cautious.

✅ If Entering Fresh Intraday Trade

Buy Zone: ₹290–₹292 if price stabilizes with RSI >38 and sustained volume above 25L

Profit Booking Targets

₹298 (first resistance)

₹303 (if momentum improves and MACD begins flattening)

Stop-Loss: ₹286 (below recent support zone)

🔁 If Already Holding Intraday

Hold Strategy

Maintain position if price stays above ₹290 with RSI ticking toward 40+

Volume should remain elevated or rise for bullish confirmation

Exit Triggers

If RSI fails to climb above 37 and MACD declines further, consider exiting near ₹295

On breakout above ₹298, trail stop-loss to ₹292 and target ₹303

⚠️ Watchouts

Fundamentals: Strong ROCE/ROE and low debt-to-equity ratio; long-term picture is healthier

Technicals Lagging: Current weakness may drag unless momentum shifts

Institutional Flow: Slight FII accumulation, but DII reduction suggests mixed confidence

If PETRONET does show a breakout intraday, I’d recommend tracking it alongside other mid-cap energy stocks for sectoral momentum. Want to build a watchlist of reversals or breakout candidates? I’ve got some powerful radar setups we can deploy 🚦📈.

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