Hindpetro has witnessed a strong rebound after forming a base above the support zone of moving averages ribbon on multiple time frames. The chart pattern indicates the potential of a gradual up move from hereon. Traders should use any dip to create fresh longs in the given range.
Petronet has been showing resilience as it is holding firmly above the support zone of long-term moving averages on the daily chart. The recent surge in the volume combined with the existence of a major support zone around 240 levels is pointing towards a steady rise ahead.
We are seeing noticeable traction in the metal pack and Tata Steel
is leading the up move. It has witnessed a fresh breakout on February 23, after spending nearly one and a half months. Traders shouldn’t miss the opportunity and create fresh longs in the mentioned zone.
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