nirav5

Bearish BAT in the making on PNB

Short
NSE:PNB   PUNJAB NATL BANK
3
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.
Comment: 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.
Comment: Kindly adjust X's position as in the below chart.
Trade active: Entry point in between 145 and 146.
Trade closed: stop reached: Target remained away for 0.60 . It went till 143.10 and reversed. Pattern went invalid.
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