amar_gr

PNB likely in process of forming a base

Long
NSE:PNB   PUNJAB NATL BANK
NSE:PNB Punjab National Bank likely in process of forming a base

This week of 24th to 28th May 2021 has started off with a 3% GapUp
High probability of hitting 42.5 - 44 range target.

Small possibility of testing 36.4 before resuming upwards

Trade active: Wow, today thursday 27th May at closing, this dark horse has really galloped +7% and already hit the target of 42.5.

Well, to be precise its missed the target by a full 0.10paise :-)

It will be interesting to see it move from here on.
Post tomorrow's weekly closing, shall evaluate furthur targets and action.

Caveat:
Considering todays volume, PNB usually has had a tendency to reverse sharply in such scenarios. This does not mean it will always do the same.

Question is tomorrow will it continue its ride and hit 46.25 (+9% from CMP)
OR take resistance and begin a reversal deom 42.50 zone.

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