PNB on fire with the right at the bottom@157 where we booked partial profits yesterday in 2nd downside target.
Target -164 - 176+
Moving above 158.50 -159 it will show its way for upside & we got an opportunity back again with volatile action close to 157-158 just within last hour of trading protecting 156 on downside.
We are in the trade with zero risk.
Previous Update - below 161 to 159-156
We got re- entry again @158.10 - PNB holded the zone of 157-158.
Holding 157-158 is good sign for upside but kindly do not become emotional with stocks & we assume that in case it goes below 157 - exit the trade in sonic speed & monitor to re-enter later.
As suggested should not keep visiting 157-158 so many times else it is prone to breach that level downside & we need to pack the bags & visit again later or if it holds the zone then good for upside.
Out in time between 157-158 as suggested. Banking Stocks are in pressure for the opening session.
Falling Hard PNB!
Nifty Index looks weak below 10020-10030 zone can attempt 40-50 odd points downside for 9980-9990 zone downside if slips.
Cracks Hard for the day.
It is just a comment -long position was closed in morning between 157-158 .
148-149 long awaited zone from earlier post - finally visited today.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
But undoubtedly your post about shorting PNB was a great idea. 👍👍