AbhishekHSinghCMT
Long

PNB- Name to bank upon for Diwali 2017 @180-185

NSE:PNB   PUNJAB NATL BANK
Last Price@142

This is medium to long term outlook which can take close to 40-50 Days having reward to risk ratio of 6:1 with stops below 132 & target upside between 180-185.

Short term zone of 140-142 is an important support zone .

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We can look to bank upon PNB this time as it respected the zone 132-135 which was a strong support zone & the googly turned back as mentioned below in previous update.
Final leg could complete in 180-185 Zone -this Diwali 2017, I look forward to celebrate diwali with PNB not to forget "with an open eye".

Magic of Googly below 142 for 135


Googly returns back to starting point


Fevicol - unbreakable


Double Top & Bearish Bat@164.30
Trade active: 15:08 Hrs 31st Aug2017

141.70 to 143.35 -Intraday short upside move for the day in expiry.
Trade active: 10:12 Hrs 1st Sep2017

Last Price@145

Some jump intraday again.
Trade active: 04:55 Hrs 2nd Sep2017

Last Price@144.30

Struggling in 145-146 Zone - we have double top so we pick next buy only above 146 level else it can correct to 140-141 Zone - searching for support downside which can be 140-141.
Next Buy either above 146 or Buy in the range 140-141
Selling is a risky call as it will against the trend & likely we have started uptrend along with Nifty.
Risky Call - One can take sell with strict stop loss above 146 for 140-141 Zone- if you see weakness in Bank Nifty.

Trade active: 13:00 Hrs 4th Sep2017

Last Price@142.50

Hits the Zone Close to 140-141 at day low@141.60

Trade active: 10:20 Hrs 7th Sep2017

Last Price@139.40

PNB has strong Support Zone between 135-137 . Either one considers buying above double top@146 or support zone 135-137 , 140-141- these are zones where possible reversal can be seen.
Trade active: 15:10 Hrs 7th Sep2017

Last price@139

Struggled whole day between 137-139. Holding the levels 135-137 on closing basis we shall look next for 142 which is next upside level.
Comment: 10:38 Hrs 8th Sep2017

Last Price@139

Nifty if holds below 9950 - some weakness is expected intraday so take care of PNB position as next trending moves can come only if 140 is crossed on upside.
Having said that I don't say one throw the position & trade with emotions - just be out for somewhile & re-enter later at better price.
Trade active: 07:20 Hrs 11th Sep2017

Last Price@137.85

Good Morning!

As suggested 135-137 zone is very strong support zone.

Best of Luck.
Trade active: 11:51 Hrs 12th Sep2017

Last Price@141.20

Finally it moves above 140 levels.
Trade active: 10:27 Hrs 14th Sep2017

Last price@145.70 - Enjoying the rally upside. Wow!
Comment: 14:34 Hrs 14th Sep2017

Last Price@145.50

As expected Nifty to complete the cycle at 10175-10225 which started from the update 9860 fall -earlier - Nifty has started moving from 10070 now at 10095.
At 10175- we will get 315 points & at 10225 we will get 360 points.
Trade active: 09:50 Hrs 25th Oct2017

Last Price@179

Day High@193

What was that ?
Trade closed manually: 09:55 Hrs 25th Oct2017

Gap up open & travelled to 193

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Hi Abishek

Yes you told that PNB will hit 185 by Diwali and I was closely watching as I was having 2300 Shares @ 175
It happened a week after Diwali and I made profit of 60K
Thanks
Reply
We all shud thanks to Arun Jaitley for explosive moves in PSU BANKS.
+1 Reply
@BeingTrader, Yes before that happened it was all said on Aug 31st . "PNB - Name to Bank upon for Diwali 2017"
+1 Reply
BeingTrader AbhishekHSinghCMT
@AbhishekHSinghCMT, Do agree. Chart says it all. However, sometimes we need external forces for explosives moves.
Reply
@BeingTrader, Yes. True but As waves theory - explosive 3rd waves are like that only - by the time you wait for news -as trader you will never be in position to take advantage but as wave expert -yes, you will most of the time. infact you will enjoy the external force even better.
Reply
Wow!! :)
Reply
@nirav5, Cheers!. Were you part of the trade or missed.
Reply
nirav5 AbhishekHSinghCMT
@AbhishekHSinghCMT, Buddy I missed :)
Reply
@nirav5, Hmmm. That's why I always give some title - "Name to bank upon for Diwali 2017" - Diwali done last week.
Reply
@AbhishekHSinghCMT Fantastic call! Delayed by a few days but hit the target nonetheless
Reply
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