PNB. The stock has been facing stiff resistances at 38 levels since almost an year. As its the only stock which has been lagging behind of all the banking stocks. Being second largest out of PSU Banks Pack, retail investors have been continuing hunting this stock as its the only PSU/Banking stock which has been underperforming its peers. With a herd of retail investors holding the stock, its not moving much upwards. As big players dont want to carry such heavy load in its upward journey.
Now lets come to the technical part.
PNB has took support at its SMA100 at 34 on 26/04 it was a clear buy at that level as the SMA100 positive crossover suggests. The ones who entered got nice 10% gain.
Anyhow, if someone missed it, he/she could still enter the stock at its SMA200 Crossover at 37.
Now the first target seems to be 44 (around May'21 Expiry) and next could be 59 ( 3 months horizon).
Cheers!
Now lets come to the technical part.
PNB has took support at its SMA100 at 34 on 26/04 it was a clear buy at that level as the SMA100 positive crossover suggests. The ones who entered got nice 10% gain.
Anyhow, if someone missed it, he/she could still enter the stock at its SMA200 Crossover at 37.
Now the first target seems to be 44 (around May'21 Expiry) and next could be 59 ( 3 months horizon).
Cheers!