PunjabNationalBank: Probable Irregular 'B' Wave

78 2
Here I have tried to simplify the wave counting on the chart of PNB, as far as possible.

The stock looks to be under irregular-B wave of its flat corrective pattern, most probably. The stock may see rally up to 184 depending on the completion of its sub-micro wave (4).

After the completion of the sub-micro wave (5), also completing micro wave 'rounded-C' and sub-minuette wave 'b', the stock may witness a fall up to the level of 112. However, an up date in this regard may be done in future.

As of now, the stock seems to be under bull phase and may see resistance only at or around 184. But, if the stock goes below 148.55 level in the near future then the situation my get reverse and will require further analysis.

As shown above in the chart, could be another possibility the stock may see, rather than being an irregular-b wave, the stock can be under the third wave of its wave V.

The chances are more that the stock may see this possible movement as shown above.
sgor1980 nirav5
@nirav5, you're welcome!
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out