AbhishekHSinghCMT
Short

PNB - Bearish Bat at 163- activates below 161 for 159-156.50-154

NSE:PNB   PUNJAB NATL BANK
Bearish Bat can activate below 161 for 159- 156.50-154.50 & finally 152. My important part of trading is risk management -if you can manage the risk you become winner in the trade.

So, trade set up activates below 161 & one should put stop loss of upcoming high or high which is already in place above mentioned targets.

Trade active: 09:40 Hrs 1st Aug2017

Last Price@160.65

1st Big Candle for the day starts downside.

Trade active: 09:48 Hrs 1st Aug2017

Day Low@158.65

Last Price@159.90

1st Target done - & short bounce starts from 159 zone - hot & awesome.

Trade active: 11:03 Hrs 1st Aug2017

Last price@157.80

New low@157.45

We book partial 50 paisa of 2nd target at 157.60-158 & wait to sell below 157.50 next or likely take a pause & wait outside.
Trade closed manually: 11:38 Hrs 1st Aug2017

Last Price@158.50

Out - out & Out in Time @157.70-158 - Moves back above 158 - Closing the short call for the day.
Comment: 06:45 Hrs 2nd Aug2017

Last Price@157.50

It is a comment only - PNB now struggling to go down below 157-156 is giving us a hint that it wants to travel upside & likely once it starts moving above 158.50-159 & crosses above that zone then holding 156 & below shall be key level for bulls.
Here Bulls could Take PNB above 159 for 164-176+
There is a double top@164.50(our pattern above)- once crosses that as well shall good bullish sign for next moves upside.
You need to do analysis at your end to confirm. I have just put the idea.
Thanks.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
THIS WAS AWESOME BROTHER!
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Is it a BUY or SHORT for tomorrow's trade?
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@mathewsboby, I have updated the comment above this morning.
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mathewsboby AbhishekHSinghCMT
@AbhishekHSinghCMT, Thank you !!
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Thanks for the update. It bounced after touching the first target. So should i still short them?
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@cajatinnagpal, Best way to trade next is below day low @158.65- You can sell below 158.50 which becomes psychological level for the day.
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cajatinnagpal AbhishekHSinghCMT
@AbhishekHSinghCMT, ok thanks a lot. :)
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@cajatinnagpal, Welcome.
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SatyamMishra AbhishekHSinghCMT
@AbhishekHSinghCMT, in@ 161 out @157.8
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@SatyamMishra, Nice for the day.
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