Punjab national banks is looking good on weekly charts is gives breakout on falling resistance trendline and given breakout on relative strength indicator too.
CAUSE OF LONG-:
1-Falling resistance trendline breakout.
2-Relative strength indictor breakout.
This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. ...
If Breaks Then The Upper Targets could be Taken at 35 and 37 and for Down the Targets could be 25 to 24
Time Frame :- 1 Day
Patterns Name :- Cup and Handle
We are not responsible for any profit or loss
Based on Your Own Risk this is only to Show you the Current Pattern
Comment Below If You want to ask me questions on this on any other idea
BTW Like and...
DO PNB DESERVE A PLACE IN PORTFOLIO?
As everyone is mad with the behaviour of PNB, and with all the projections of it becoming zero, I feel it's my responsibility to add my bits. well PNB is not a stock for weak hearts to stick onto. It has underperformed our banking cycle. with all the boom and busts in the economy, PNB has resulted in losing its market cap. Can...
One of the nice set up here on the charts of Punjab National Bank. This looks like a great trade with perfect risk to reward ratio.
Rough Set up.
Buy Price - Around 40-41
Stop loss - Around 38.5-38
1st Target - 43 🎯
2nd Target - 47 🔥
This is not a buy recommendation from our side. Just showing how to plan a trade and be ready to take calculated risk against good profit.
If you wanegative but revenue increased
2. Punjab Nationalnt to go long then I will suggest you to buy near the trendline and then add Qty after the ascending triangle get broken.
1. Earnings were Bank raises Rs 1,919 crore via bonds - NEWS
Please like my idea if you really like it and happy trading! NSE:PNB
Scrip : PNB
Setup: 3 Rising Valleys Pattern, Rising Channel, Chikou Span in open space and PSU bank Index giving breakout above 2 years levels
Target 1 - 55
Risk: Slightly Risky Trade as PSU bank
Stoploss: Please determine, manage and adhere to your stoplosses as per your risk profile and appetite.
A close below 35 could be a determined as a Stoploss level....
I am posting this on request from a follower on Twitter.
1) On 1 Day time frame, we can see that it has support at 44 level and resistance at 46 level.
And it closed just below the resistance level. If it gives sustainable breakout of 46 level and sustain above 46 then we can see further up move till 48 and 50 level.
But if it faces...