amitchauhanihm

PNB at strong support and looking to fly

Long
NSE:PNB   PUNJAB NATL BANK
PNB is on verge of breaking it resistance on price and its current level is strong support per RSI . If we look at OBV it has already shown breakup and there is positive divergence... For me its early entry but risk reward is pretty favorable as my stop loss would be low of previous day candle ... If you want to wait for confirmation you can wait till the price resistance is broken { Channel highlighted in price graph } in chart
Trade active: PNB has not moved up but it still has not breached my stop loss and its again taking support at support basis RSI support zone , I would continue to hold on to my position and lets see what happened next