dravya
Long

PNB - Showing Strength

NSE:PNB   PUNJAB NATL BANK
NSE:PNB is showing good market structure with rising volume on up-moves. * See those green volume spikes.

Short-term target would be intermediate resistance of 129.
Stop-loss would be a good trendline break .
Trade active: Short-term target of 129 achieved. Would scale-out, though it seems it will trade on higher levels in coming days.
Trade active: Trendline provided support again, and now also above the SR Line, Will hold until close below trendline.
Comment: Leaving this chart now. Will make a new one.
Trade active: more than 10% up now. Well above trendline.
Trade active: Didn't make make a new chart but trade is still active. 155 now. Up over 20% now.
Comment: As mentioned before , will hold until the trendline is broken.
Trade closed manually: Exit. Don't wait for the trendline. I hope you closed it already.
Comment: Exited at peak and now made money shorting ! That's how we do it !!
the target was always 135 for cup and holder
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dravya pandya_parth
@pandya_parth, Hi parth, yeah, you're absolutely correct and we shall see those levels soon. Thanks.
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129 will test i think
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dravya rupambose32
@rupambose32, Yes, more probable. Can even break it and form a base in medium term.
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@dravya, thank you
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dravya rupambose32
@rupambose32, Sure, also look out for banknifty , if stays strong, then hurray :D .
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