Hardly moved from our target zone of 157-158 as expected in last update. The way it has moved since our target achieved -we think some thing is left downside.
So, here comes shark after triangle or triangle - the mother of shark
Holding below 160 levels as bulls can come back sharply above that level. PNB can complete the shark 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 shark.
Target Zone -148.50-149.50
Target Extension - 145-146
Note This move is valid till the time PNB stays below 160 level- Above 160 level - Bulls will show their power or we complete the shark in 145-149 zone & Boom Next
Previous Update - The Zone of 154-155- Fevicol ka jod hai
Trade active
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13:53 Hrs 22nd July2017
Last Price@158.30
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 Or If PNB holds above 160 & don't drop back later for 4-5 Hrs -then we are open for new upside zone.