PNB bullish above Rs. 45 Long

PUNJAB NATL BANKNSE

Description

⋅ May 27, 2021 4:24 PM

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

⋅ May 29, 2021 8:31 PM

Target update

T1: Rs. 50 (For Safe Traders)
T2: Rs. 56
T3: Rs. 63.5++

Comment

⋅ Jun 3, 2021 12:29 AM

CMP@44
Trade might activate today or fall back to trendline for support.
Keep on watchlist.

Order cancelled

⋅ Sep 13, 2021 5:35 PM

Entry not achieved, support trendline broken.

Comments

josanjax

⋅ Jun 3, 2021 7:14 AM

Hi! Could you justify the target 56 and 63.5?

Anmolshukla

⋅ Jun 3, 2021 7:26 AM

@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!

kishore_bharathi

⋅ May 30, 2021 5:39 PM

50+ will reach within june 11??

Anmolshukla

⋅ May 30, 2021 8:01 PM

@debonairTruffl80569, 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.