PNB possible reversal?

This is my analysis and idea of the upcoming movements of Punjab National Bank, NSE.

Till now the movements have indicated a reversal. We are seeing steep buys with a slow fall after that, which may indicate high volume traders grabbing positions while past negative sentiment(money scams) pulling the price slowly down.

But the possible reversal and company's recovery plans may fetch higher stock prices once it crosses the 78.60 zone(Green dotted horizontal line). Next resistance zone being 82.5-84.5.

If it goes to the zone of the red arrow then the breakout maybe delayed till the point when the green horizontal line and the red inclined trend line meet. If the red trend line breaks then the fall maybe till 72-69.

All Support and trend lines are considered zones here due to conflicting sentiments.

Comment: Today, PNB did not cross the 78.6 resistance I mentioned earlier. But still bullish on this stock. 26th July is still a good date for the F&O expiry.

Cheers! Happy Trading!

Related Ideas

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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out