I love when stocks of the same sector break resistance and start making new highs. Gas-based stocks have been doing so in last few weeks and I have covered them as they continue to do so.
The first stock to breakout was Petronet
Source: Chartalert.com
Petronet since breakout did a predictable thing. It pulled back retested previous resistance as support and has rallied nicely. I covered it back here
It was closely followed by Indraprastha Gas IGL
Source: Chartalert.com
IGL broke out above 340-350 and consolidated for a few days before taking off. I covered it back here
One more stock that has broken the resistance and consolidating well: GSPL Guj State Petronet Limited
Source: Chartalert.com
GSPL stock broke out above 200 in July and now the stock seems to have consolidated before making any bullish move.
We know the wind is blowing in the direction of this sector and hence this is not surprising that stock of this sector doing well.