Petronet LNG - Bullish

The stock is moving in a bullish parallel and has taken support on the lower boundary and rebounded back indicating clear recognition of the channel. It has handled the on going correction very well. 50 DMA > 200 DMA. Daily Vol in same range as average Vol. Applying fibonacci the price has already crossed 38.2 % stage. This stock is likely to rise and attain following targets.

1) Trgt # 1 - 402
2) Trgt # 2 - 425
3) Trgt # 3 - 449

This write up is for academic purpose only.