Hi! I trade NSE stocks using Demand and Supply zone strategy, mostly in Weekly time frame. Here's a trading plan for PNB Weekly location: Low Daily trend: Up (Let's go long) Hourly zones: Demand zone marked on chart Trade duration (max): 2 week Note: Target, Entry and SL on chart
The stock after a steep fall has entered its demand zone as you can see in the chart. It's taking support in this zone yet once again. Keep this zone in watch. Trade accordingly.
Looks like a nice cup and handle is in formation. Today almost it touched its upper range of support (138) and close nicely at 141. RSI and slow stochastic are near mid which does not indicate any trend so keep watch for few days to confirm the handle formation.
Descending Triangle on PNB. NOTE: This chart recommendation for positional, not for an intraday. Trade: Short below - 139.00 Target 1 - 136.80 Target 2 - 134.50 Stop loss - 142.40 Risk : Reward => 1 : 2 Reward Points - 4.5 Risk Points - 2.5
Here, is a potential short setup . I'll go short on PNB tomorrow , only below 145 , if it stays above it, no trade entry. If it's below at 144, I'll go short : A part for intraday, where I'll keep 1 point stoploss and target according to movement. And the other part for positional, where stoploss would be 151 ( 7 points ) and target 132 ( 14 points )...
NSE:PNB is showing good market structure with rising volume on up-moves. * See those green volume spikes. Short-term target would be intermediate resistance of 129. Stop-loss would be a good trendline break.
Its been observed that PNB has been following an up trending channel since 24 may 2016. Considering the fundamentals, current events and upcoming events I am strongly bullish on PNB. Please feel free to share your thoughts and suggestions on this. PS: A small violation in the channel pattern was observed on the US election results day (09 NOV 2016) when the...
Punjab National Bank after breaking rising wedge pattern retested the broken level again, it seems to trade in downward direction from here, its the best time to enter short on retest level and short between 142-145, risky trader may short at CMP and no more room for conservative trader they can too short at CMP for a target of of 123.00 in near term.
The stock is at a good support area. MACD indicator is showing divergence. Although it is making lower high and seems to be in downtrend one can enter long here with small Stop loss and look for a target of 141. Very good risk to reward ratio.
Today the price action breaks above the previous resistance level of 137.50 and made a close above it. It signals bullishness in price action and now the buyers shall take the prices further up to 145-150 levels. It is a good time to enter with stoploss of 125.
The price action is been consolidating for past four days in the range of 120-124 (3-4%). I'm expecting a breakout next week with a big move. It will be interesting to see whether the price action breaks 124 levels and reach out to the previous high at 136 or whether the correction continues and the price action breaks 120 levels and reach out to 115-116 levels to...