PNB long setup

Punjab National Bank long setup on weekly chart

Buy above: 155
SL: 135

Target1: 180
Target2: 200
Target3: 225
Comment: PNB on 15m tf is in the process of ascending triangle formation. Lets hopr for a breakout above 155

Trade active
Comment: PNB at channel bottom

Comment: So far price made a low of 135.65... Very very close to our SL.
We will maintain the same SL and wait for the good bounce from here.
Comment: SL not hit. Missed SL by 65 paisa
Fresh buy can be initiated above 146 upon channel re-entry. SL and targets remain the same

Trade active
Trade closed: stop reached
Comment: PNB below 132 can fall further

Comment: PNB has re-entered the channel
nalinakshi nalinakshi
@nalinakshi, yes i agree with your analysis, i feel momentum has to abuild up, after 149 it may take the 4 th gear, now engine has started with the first gear, to change to next gear it has to cross 147. thanks lfor posting. it is nice to know your angle of viewing the chart.
+1 Reply
tRex88 nalinakshi
@nalinakshi, Thank you for sharing your chart :)
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