Pnb
Bullish, Resistance level Breakdown If PNB opens at the previous closing level it will be good for buy.
It already breaks their upper resistance level and reverses back for an uptrend move.
Breakout in PNB PNB has given breakout ( double bottom pattern as well as long term trend line) on daily chart . This breakout is supported with huge volume . post breakout, it has tested the support and ready for fresh upmove. Minimum upisde should be about Rs 50
Disclaimer : for education purpose only
PNB ready to 51+ Target after parallel channel breakoutIn today's session, we have seen a strong buying volume in PNB near the breakout level of 38.70. After a breakout of this parallel channel, getting the next target according to a pattern is 51+. Possible this stock can trade above 59 in this month.
Possible Trade:
Buy PNB Above 38.50
Stop-loss - 35
Target 51 59+
Punjab National Bank InvestmentPUNJAB NATIONAL BANK
#INVESTMENT
BUY PNB above 40
ACCUMULATE TILL 32
SL 24 (CLB)
TARGETS 75-150+
3YEARS HOLDING
SMALL PLAYERS START DOING SIP IN THIS STOCK
#ankur #investment
PNBPNB today has crossed an important level of 39. If it stays above the first line, It has the potential to touch 45-55 in the near future
BuyBuy in dip at 32.60 and 31.30 with sl of 29.80 for target 40
Disc : It's not an advise to buy or sell
PNB - the next decade multibagger - Weekly TF - Ready to FLYContinuation idea to Monthly analysis, super bullish momentum in weekly TF, ready to FLY
PNB - the next decade multibaggerPNB seems to have completed larger degree wave 2 and could give multibagger 10x returns in the next few year.
Invest in this second largest PSB and forget for a few years.
Lower time frame analysis to follow
LONG INVESTMENT IDEA ON PNBBUY PNB @32
ADD MORE AT 40
SL OF 26.20 CLOSING BASIS
TARGET 59 SINGLE TARGET
NIFTY BANK Vs PSU Bank Vs Private Bank I was wondering who is pushing the Bank Nifty, so I decided to visualize this by this simple comparison.
The three major PSU banks are compared with the NIFTY BANK there market cap is as follow
3 (25%) PSU banks out of 12 holds 28.05186836 % of NIFTY BANK VALUE.
9 (75%) Private banks out of 12 holds 71.94813164 % of NIFTY BANK.
YoY in % YTD in % 30 mar to 18 Nov in %
BANK NIFTY -5.56 -8.14 57.31
PSU BANK* -41.95 -43.64 6.03
State Bank Of India -25.47 -26.3 31.7
Punjab National Bank -49.1 -52.8 -7.29
Bank Of Baroda -51.28 -51.82 -6.32
PRIVATE BANK** -17.32 -19.41 62.00
INDUSINDBK -42.02 -45.4 96.12
AXISBANK -13.6 -15.58 72.68
ICICIBANK -1.29 -8.21 56.2
HDFCBANK 11.16 9.92 68.91
RBLBANK -32.71 -36.7 47.8
KOTAKBANK 12.16 9.91 42.9
BANDHANBNK -37.12 -29.3 66.43
FEDERALBNK -32.51 -33.8 45
IDFCFIRSTB -20 -25.6 62
*Average of PSU banks included in NIFTY BANK only
** Average of Private banks included in NIFTY BANK only
(YoY) in % YTD in % 30 mar to 18 Nov in %
BANK NIFTY -5.56 -8.14 57.31
PRIVATE BANK** -17.32 -19.41 62.00
PSU BANK* -41.95 -43.64 6.03
Where BANK NIFTY is down by 5.5% PSU BANK* is down by 41.9% on YoY basis.
After 30 march 2020 where BANK NIFTY is up by 57.3% PSU BANK* is only up by 6% even though PSU banks holds 28.05186836 % of NIFTY BANK VALUE.
It is interesting to see that after 30 march 2020 ,the 28.05 %(%value in Bank Nifty) of 57.3 is 16.7 that means PSU BANKS** contribution in Bank Nifty is lagging by (16.7-6=10.7)10.7%
It is interesting to see that after 30 march 2020 ,the 71.94 %(%value in Bank Nifty ) of 57.3 is 41.24 that means Private BANKS** contribution in Bank Nifty is leading by(62-41.24=20.76) 20.76%
With the above observation it is clear that at least PSU banks included in NIFTY BANK are the ultimate underperformers and the move of NIFTY BANK is solely because of the Private banks in NIFTY BANK in the last two years
Data Taken from nseindia official website.
Let me now what's your take on the above observation in comments and also comment about such bad performance of PSU banks.
PNB Cup and Handle breakout above 30PNB on 15mins chart has formed a cup and handle flag pattern. Above 30 likely to test 31.20
PNB : Diwali Pick for 3months to 15months holding As TF is weekly, trade duration will be 3 months to 15 months.
In simple words :
Buy around 28~31
With SL on weekly closing basis at 25.30
With targets of 38+ and 67+
Other triggers and observations on chart.
PNB in rectangular range PNB has been trading in a rectangular range for weeks now.
Also, within the consolidation, the increase in volumes is often observed when there is an upward move.
In the downward move, the volumes are often subdued.
Also, there is a trendline that the stock is going to test soon upwards.
This could be a good move for the stock on the upside if the stock closes above the trendline at the end of the week.
Duration: Medium term (few weeks).
punjab national bankPNB:- buy at 27/28 for target 37/40 sl 23 dcb
#Disclaimer:-I just shared view for only educational purpose.
pnb longpunjab national is a long candidate with 26 sl for higher side trail targets with rr in favour with dual bottom and rsi +ve divergence
