Bearish BAT in the making on PNB

Oct 19, 2016

PNB is a high volatile stock. On its day it can swing big. Currently we are in the D leg if the pattern is valid. In order to make it a valid pattern it should travel near 144 or above. Wait for some rejection between 144 to 146 level before initiating the trade.

Oct 20, 2016

Note

PNB made a high of 145.75. One can initiate the trade when PNB reaches near 146 again with SL of 147 and target of 142.5.

Oct 20, 2016

Note

Kindly adjust X's position as in the below chart.

Oct 20, 2016

Trade active

Entry point in between 145 and 146.

Oct 21, 2016

Trade closed: stop reached

Target remained away for 0.60 . It went till 143.10 and reversed. Pattern went invalid.