Time to buy

NSE: Punjab National Bank
BSE: 532461 | NSE: PNB
Previous Close as on Friday, February 16th, 2018, 3:40 PM: ₹125.55
Buy at: below ₹130
Stop-Loss at: ₹110
Target Price: ₹170
Duration: 1 month

Reason: PNB is one of the largest public banks in India, and while they are in the middle of a financial crisis, it is important to remember that they are quite a stable company. As seen in the graph, PNB has fallen to its lowest point in years and can fall even lower as the scam unfolds. However, this panic sell-off is because of the retail investors, and not of the institutional buyers. Therefore it would be smart to enter into trade only when the stock starts upwards.

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