PETRONET - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.2

Here’s a detailed technical analysis of Petronet LNG Ltd (PETRONET)

📊 Trend Overview

Current Trend: The stock is in a mild downtrend, trading below both its 50-DMA (₹284) and 200-DMA (₹299), indicating short-term weakness.

52-Week Positioning: At just 11.7% of its 52-week range (₹268 – ₹369), the stock is hovering near its yearly lows, reflecting bearish sentiment.

📈 Momentum Indicators

RSI (51.4): Neutral. Indicates indecision with neither strong buying nor selling pressure.

MACD (-0.96): Bearish crossover. Suggests weakening momentum and lack of bullish conviction.

Volume: Current volume (14.27L) is slightly below the 1-week average (16.26L), showing reduced participation and absence of accumulation.

📉 Chart Patterns & Moving Averages

Price Action: The stock has failed to hold above its 50-DMA and 200-DMA, showing resistance near ₹284–₹290. A breakdown below ₹275 could accelerate downside.

Support Levels

₹268 – 52-week low and psychological support

₹275 – recent swing low

Resistance Levels

₹284–₹290 – 50-DMA and short-term resistance

₹299–₹305 – 200-DMA and historical resistance

📌 Bollinger Bands

Price is near the lower band, suggesting oversold conditions. However, without volume confirmation, a bounce remains speculative.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Entry 268–275 Near support, favorable risk-reward

Exit (Short) 284–290 Resistance zone, near 50-DMA

Exit (Long) 299–305 If breakout sustains above 200-DMA

🔍 Market Behavior

Trending: Mild downtrend, confirmed by MACD and price below DMAs.

Consolidating: No, price is declining with weak momentum.

Reversing: Not yet. Indicators suggest continued weakness unless volume and RSI improve.

🧠 Summary

PETRONET is technically weak, trading near its 52-week lows with bearish momentum. RSI and MACD show indecision and fading strength. Traders should wait for signs of reversal or accumulate cautiously near ₹268–₹275 with tight stop-losses. A breakout above ₹290 with volume would be the first bullish signal.

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