Petronet LNG stock check: Shares trade near 52-week high; Read here

Petronet LNG shares have been on a roll in the last six months and hit a 52-week high of rupees 239.80 on BSE in the previous session.

Aamar Deo Singh, Head Advisory, Angel One, said the stock has immediate resistance around the rupees 240-245 mark and strong support around the rupees 215-220 zone.

Naveen Mishra, Senior Research Analyst - Equity Research, CapitalVia Global Research, said the stock has given the breakout of a strong resistance level of rupees 232 and RSI is sustaining above 60.

Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher, said the stock has appreciated decently in the past two-three weeks and one can anticipate a further rise in the coming days.

The near-term support can be maintained near rupees 232 with further initial targets expected near rupees 250-255 levels and thereafter if strength is sustained, it can also hit rupees 267-270 zone.

The RSI is well placed with further upside potential indicated and the trend shall weaken only after a decisive slide below rupees 222.

According to a MintGenie poll, 32 analysts on an average have a ‘buy’ call on the stock.

Investors should take the fundamental and technical aspects of the stock into consideration before making any investment decisions.