So, here comes after triangle or triangle - the mother of
Holding below 160 levels as bulls can come back sharply above that level. PNB can complete the pattern's final leg in the zone 148.50- 149.50 & if extends downside then can test 145-146 zone which is the second permitted extension 113% for .
Target Zone -148.50-149.50
Target Extension - 145-146
This move is valid till the time PNB stays below 160 level- Above 160 level - Bulls will show their power or we complete the in 145-149 zone & Boom Next
Previous Update - The Zone of 154-155- Fevicol ka jod hai
It dropped perfectly but only half way to 156 & bounced back again to 158.60.
Going below 158 -it can again attempt 155-156 zone where short term support is seen if holds at 155-156 then push can be seen close to 159-161 zone.
One thing to be noted that if PNB remains below 160 after 1-2 rounds of up & down -it will have chances of attempting 148-149
If PNB holds above 160 & don't drop back later for 4-5 Hrs -then we are open for new upside zone.
Next trade was below 158 but did not move & moving above 160 was bulls zone -intraday it travelled to 164.
Just Amazing - It is just a comment what a 148-149 ?
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ