PETRONM breakout daily Resistance 7.320 with marubozu green candle and gap up. Possible to continue on bullish run PETRONM also breakout weekly and monthly resistance. next resistance 7.620 chart looks in uptrend channel 18% retracement on daily chart before bullish run. last candle close 52w high.
as long uptrend line provide good support it is safe to entry after ma 200 break at weekly timeframe decision: wait
www.quora.com .......Jitendra Prasad, M.Tech. Petroleum Engineering & Oil and Gas Industry, Indian Institute of Technology , Dhanbad (1991) Answered Jun 22, 2017 Normally, profitability in upstream and downstream (Refining) sector are inverse.If crude oil prices are higher , oil companies will earn more profit and profitability of refineries will dip. Whereas...