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ParamjitMahapatro
Aug 4, 2017 1:54 PM

pnb housing finance looks bullish in short term. Long

PNB HOUSINGNSE

Description

price bounced from trend line support and horizontal support with good volume.

sl - 1430, tgt - 1675

Trade active

closing price 1552.65

Trade active

moving up as expected, but taking more time than expected , till now 1644.90

Comment

price recently came down to the support level, now it is bouncing back, it is now moving in a horizontal channel.

Trade active

till now 1517.70,

Trade closed manually

but elliott wave count shows that wave 2 correction (flat correction) is going on here. in.tradingview.com/x/5GfJiCW8/.

price can go down to or below 38.2% retracement level.

Comment

now here is the fractal count of flat correction, it seems last leg of impulse of wave [c] is pending here.

Comment

follow up chart, price is following the ew count.

Comment

at cmp - 1301, previous support now acting as a resistance , selling pressure seen here.
Comments
satyamitankar
what is the timeline for target
ParamjitMahapatro
@satyamitankar, i think, it should take around 2 weeks of time.
msawerdekar
Its VWAP is at 1525.07, keep an eye on VWAP. Above 1560 positive brake out.
ParamjitMahapatro
@msawerdekar, yes, thanks for sharing.
MrAkshatP
it is bullish in even long term :D :D
ParamjitMahapatro
@AkshatPatwa, yes bro, also I am following your analysis on this scrip.
MrAkshatP
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