SagirKazi

PNB – Accumulation Phase with Volume wait for breakout.

NSE:PNB   PUNJAB NATL BANK
Entry – above 42.55 only (else Stock is in Sideways Trend)
Stop loss – 33 (Trailing Stop 39.5 after Price gives a run up)
Target 1 – 59.7
Target 2 – 85.4
Duration – 1-2years

Fundamentally, No one knows how to value Public sector Banking Stock. And PNB had a Bad history with Nirav Modi Case. So No one knows Quality of Loan book.

Technically, Good Accumulation is seen in this script around 33 to 39 levels. However selling Pressure seen around 42.55

Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
Trade active: Entry trigged on yesterdays close.

Please do not forget Stop loss

Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.

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