Petronet LNG has been in consolidation phase from 2019 and is frequently seen as giving whipsaws at the 40 day EMA. It made an all time high of 299 and from there it started its sideways journey. It formed a triangle pattern and on 15th Januray gave a breakout with above average volumes.It even briefly tried to test the all time high of 299. The long term Relative strength (Red line) too has turned positive for the time period. If this level is crossed petronet could go till 350-360 levels. The risk present here is that for the very short term the stock is in a weak zone as overall markets have seen selling. (This is not an investment tip. Please do your own due diligence)