PNB had given breakout from the inverted H&S
with high volumes. Target of the breakout was 112 but counter retraced from 100 and again cam back to 87 level. Counter should take support around 84 which is 38.2% retracement
of entire rally from 58 to 100. After 84 , next support comes at 80-81 range which is also a support of neckline. As counter drifted down from 100 to 87, volume
has also come down simultaneously. Traders ,who had created long around 80-81, might have booked profit at psychological resistance level
of 100 but the investors who had bought at long term support zone
of 60-65 might be waiting for counter to complete full circle.As higher top higher bottom structure is still valid, short term investors can look to buy 50% at 85 and rest 50% at 81 with stop loss below 74 for target 112.