yossarian121

PNB - outperform potential. Breaking gann downtrend

Long
NSE:PNB   PUNJAB NATL BANK
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2
PNB took out the downtrend gann channel. If sustains can rally sharply from here
Comment: Hedge the risk here with some puts. might be just filling the gap of 15th-16th may before resuming downtrend
Trade closed manually: Exit longs - nifty has rallied c. 200 points from lows. Risk reward not great on nifty, cutting longs basis that

Comments

Do yoou think it will go down
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yossarian121 SadashivKashyap
@SadashivKashyap, No that's not what the chart I posted meant - it has outperform potential. But high beta so think futures longs can be hedged with 80 put
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yossarian121 SadashivKashyap
@SadashivKashyap, See latest update
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