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

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 .

Exicited to share the dark new theme which was introduced by TradingView recently. You can check the details at below link

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
| 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
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.
@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.
Wow!! :)
@nirav5, Cheers!. Were you part of the trade or missed.
nirav5 AbhishekHSinghCMT
@AbhishekHSinghCMT, Buddy I missed :)
@nirav5, Hmmm. That's why I always give some title - "Name to bank upon for Diwali 2017" - Diwali done last week.
@AbhishekHSinghCMT Fantastic call! Delayed by a few days but hit the target nonetheless
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out