PNB volume increasing with increase in pricePNB was bearish on weekly chart now formed higher low higher high on weekly chart, also
PSU index is also going bullish could be good positional trade.
Pnb
PNB: CALM BEFORE THE STORM ?PNB has broken a trendline resistance with massive voulme. Buy at cmp, for 56+ levels.
Study trendline resistance breakout.
PNB looks great on charts, inverse head and shoulder formationHello Every One,
I am sharing herewith the PNB stock trading idea, on daily charts of PNB share you can find a formation of inverse head and shoulder formation which offers great trade set up with the risk to reward ratio of 1:4 and the traders can take position in cash and F&O as per their risk appetite. This post published here is only for Educational Purpose and do consult your financial advisor before taking any trade decision.
Once the inverse head and shoulder target met, then the stock is expected to be bullish on weekly charts for further upside potential.
PNB --- WITH GOOD CHART (very bullish)it has made head and shoulder in 3rd wave which means after this breakout it can be doubled or tripled
Punjab National Bank Although I had kept an eye on this stock, I'm posting this on a couple of requests.
There are 2 prominent long weekly descending trend lines. I see quite a few resistances up to 43-45.
Above that the road seems less congested for a nice drive.
Risky traders can look to take it above 39.5 for a target of 42-45.
PNB – Accumulation Phase with Volume wait for breakout.Entry – above 42.55 only (else Stock is in Sideways Trend)
Stop loss – 33 (Trailing Stop 39.5 after Price gives a run up)
Target 1 – 59.7
Target 2 – 85.4
Duration – 1-2years
Fundamentally, No one knows how to value Public sector Banking Stock. And PNB had a Bad history with Nirav Modi Case. So No one knows Quality of Loan book.
Technically, Good Accumulation is seen in this script around 33 to 39 levels. However selling Pressure seen around 42.55
Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
#PNB Looks to be a eligible counter for breakout above 46.5#PNB Looks to be a eligible counter for breakout above 46.5 / with a low risk entry above 44.5/45
It has been making higher highs and moving up in a nice pace to reclaim the resistances
The volume support has been increasing in the recent past and crossed 300M in the recent trading days
Note : This article is for education and research purpose only , Please consult your financial advisor before taking any investment decisions
PNB LOOKING BULLISH !!!Buy PNB at CMP for a target of 44+
sl: 38, horizon: 6W, all oscillators are positive
PNB Gilts might gain a bit moreOn 31st' May, PNBGILTS gained 6.4%. Now it is close to its all time high, which is 64.75. Post this region, it might gain a bit more.
Keep the stop loss at least below the support region which is respected since 2017 or to be safe, below 56.8 which is below the gap between 'Rising window' candles. (Cross reference with the chart)
PS: All the PNB stocks seem to be bullish and it is helping Gilts too.
NIFTY BANK IS LOOKING BULLISH Trend is our friend. Until it Bend in the end. 😂 My favorite picks are SBIN, Canara Bank, PNB and federal bank. Ride the trend.
PNB bullish above Rs. 45Wait for activation i.e.
Daily candle closing above Rs. 45. (Low risk traders)
High risk traders can enter at CMP too.
Inverted head and shoulders also spotted, strong bullish signal.
Company expected to give a strong quarter as well.
Keep in watchlist.
NSE:PNB
BSE:PNB
PNB - On channel supportPrice rejected from the channel top and reached the bottom successfully. Now one can expect the price reversal once after breaking the trend line.
NIFTY PSU BANK INDEX - Very Bullish The index is forming an Inverted Head and Shoulder Pattern.
Just broke out of the Downward Channel resistance this week.
In about 2-3 years the index should reach its target of 4340 but before that happens its intermediate targets will be met.
Between 2660 and 3360 there could be some consolidation going forward.
Immediate short term - MACD crossover should give this space some momentum.
My Fav picks from the index include
SBI, BOB, PNB, Indian Bank, Central Bank & Canara Bank.
PNB CMP 42.2PNB broke out rounding bottom pattern at 41.3 with huge volumes and closed at 42.15. Next targets are 42.8, 44.2, 46.25. Depth of the cup is 8,Breakout point is 41.3. Final target is 49.3
PNB: SLEEPING GIANT AWAKENDBuy PNB at Curent market price, sl: 38, Targets: 44,46,48+, horizon: 6W. Study Reverse head and shoulder pattern breakout.
PSU BANKS: Invest in one of the most underperforming sectors !!!We are at the cusp of a fresh bull run in psu banks. My top picks are SBIN, PNB, CANARA BANK & BOB. Don't miss the golden opportunity. Chart is self-explanatory. Only for educational purposes.
Pnb Breakout Pnb resistance breakout.
Head & shoulder breakout but not supported by volume.
Wait for retest before taking entry.
Further resistance near 43.
Caution: could be a false breakout
Follow for more
PNB: SLEEPING GIANT AWAKENED Punjab National Bank is an Indian multinational banking and financial services company, 3rd largest in India, it has Formed reverse head and shoulder pattern. Closing and sustaining above 38.60 can lead to massive rally.
SHORT-TERM TARGET: 44 (4W)
LONG-TERM TARGET: 94 (52W)
Reasons supporting the rally;
➡️MACD ABOVE SIGNAL & CENTER
➡️RSI INDICATING PRICE STRENGTH
➡️PNB SAW IMPROVEMENTS IN NET PROFITS, OPM & REVENUES IN RECENT QUARTER
➡️MFs INCREASED THEIR SHAREHOLDINGS LAST QUARTER
