PNB - outperform potential. Breaking gann downtrend Long

NSE:PNB120

PUNJAB NATL BANKNSE

Description

⋅ May 24, 2018 4:36 AM

PNB took out the downtrend gann channel. If sustains can rally sharply from here

Comment

⋅ May 24, 2018 8:00 AM

Hedge the risk here with some puts. might be just filling the gap of 15th-16th may before resuming downtrend

Trade closed manually

⋅ May 25, 2018 8:16 AM

Exit longs - nifty has rallied c. 200 points from lows. Risk reward not great on nifty, cutting longs basis that

Gann

Comments

SadashivKashyap

⋅ May 25, 2018 4:37 AM

Do yoou think it will go down

yossarian121

⋅ May 25, 2018 7:40 AM

@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

yossarian121

⋅ May 25, 2018 8:19 AM

@SadashivKashyap, See latest update