Dear Investor,
If you want to know what a Consolidation phase is look at the Petronet LNG chart. It is just ready to show some sprakles. Keep an close eye, if it manages to go above this range and stay there for more than 3-4 days then it will rally.
This is a weekly chart of Petronet. Reason for this picture is to look at previous consolidation and the move after the consolidation. This is called stage two consolidation.
With Oil reaching 100 dollars a barrel, I think time for Reliance Industries is coming back. No need to buy in hurry, overall positive indication are coming for this one.
Thanks
Anil
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