Petronet LNG unlikely to see very high appreciation: Rajat Bose

Rajat Bose of rajatkbose.com in a chat with ET Now talks about Petroner LNG.

Petronet LNG’s chart has been showing some bit of traction for the past couple of trading sessions. What is your take?

Talking about Petronet LNG, if you were looking at the short term prospect, then I would say that 132 to about 135 would continue to act as a supply zone. If this 135 is taken out on the upside with good volume activity, then you might actually expect some further higher levels in the short to medium term.

But my feeling is that let us watch out and see if it can really take out 130 on closing basis. If it manages to do so then 135 to 140 would be the next target. But I am not looking at very high appreciation in the short term in this. Compared to this I find Gujarat Gas a better bet.