There is a good buy opportunity in the Punjab National Bank, on the basis of Positive Divergence Pattern in a daily time frame chart. This pattern can be drawn as well as observed after forming lower lows in price chart and higher highs in RSI Indicator. The trader should place a long position with a stop loss of 58.70, provided the stock gives today closing above this level. Further, the first target is set at 68.20
Comment:
*There is one correction in the second sentence that is (higher lows) in RSI Indicator.