Anmolshukla

PNB bullish above Rs. 45

Long
NSE:PNB   PUNJAB NATL BANK
Wait for activation i.e.
Daily candle closing above Rs . 45. (Low risk traders)
High risk traders can enter at CMP too.
Inverted head and shoulders also spotted, strong bullish signal.
Company expected to give a strong quarter as well.
Keep in watchlist.
NSE:PNB
BSE:PNB
Comment: Target update

T1: Rs. 50 (For Safe Traders)
T2: Rs. 56
T3: Rs. 63.5++
Comment: CMP@44
Trade might activate today or fall back to trendline for support.
Keep on watchlist.

Comments

Hi! Could you justify the target 56 and 63.5?
+1 Reply
@josanjax Sure!
The first target i.e. 56 is a major critical level for the stock so it will face resistance there and might even reverse for support, hence a level for profit booking.
And the second level is roughly 41% from the entry price, which is equal to the length of the ascending bullish triangle.

Great that you wanted to know!
Reply
50+ will reach within june 11??
Reply
Anmolshukla kishore_bharathi
@kishore_bharathi, I feel there is a slight correction upcoming in nifty and banknifty so it might trade sideways for a while before breaking the resistance, but once it breaks the zone, 50+ target shouldn't be difficult to achieve within a week or two.
Reply
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