PREMIER ENERGIES is trading within a critical support range of 980 to 1000. Historically, the stock has attempted to break above this level, but those efforts resulted in false breakouts, indicating market volatility. We may anticipate a short-covering rally, which could temporarily increase the stock price as short sellers buy back shares to cover their positions. Additionally, it's worth noting that Premier Energies has recently secured a significant order valued at 632 crore, which could bolster investor confidence and further contribute to a potential rally. The combination of these factors may create an opportunity for investors looking to capitalize on a rebound in the stock.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.