PNB has given breakout ( double bottom pattern as well as long term trend line) on daily chart . This breakout is supported with huge volume . post breakout, it has tested the support and ready for fresh upmove. Minimum upisde should be about Rs 50
I am able to reproduce the chart but I am not able to understand how pattern supports a target of 50 or above.
I have taken chart from 2017 till now and y-axis is on log scale.
@rahula211, To get this u have to zoom out a lot until u get the end of 2017 data to till date..
nikhilkambli2011
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but isnt the rsi too high to enter
Ibuuu12
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@nikhilkambli2011, it is,but a high rsi doesnt mean the stock wont move any further upside and from previous data PNB has even traded at higher RSI than now.
Stock_Terminator
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Time to buy now, between 31.50 to 32
ashishrai157
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is it the right time to invest in dabur india shares ?