Dear Fellow traders, Punjab National Bank has formed a bull flag on the monthly chart. The point C is the real bottom for PNB after the bearish divergence that started from point A. Point C is the end of bearish divergence for two reasons: 1. Point C on price chart: There is a double bottom that has been formed at point C. 2. Point C on RSI: RSI hit the lowest...
Outperformer - 1) Reverse head & shoulder pattern. 2) Punjab National Bank up by 7.5% v/s NIFTY 50 up by 4.29% in last 1 month. 3) The stock is in the Buy Zone according to its historical P/E. 4) Stock is trading above all short and long term SMAs. Targets are: 58 and 66 in medium term.
PNB(D): LOOKS GOOD FOR MORE UPSIDE. 1) CUP WITH HANDLE FORMATION 2) VOLUME EXPANSION 3) TRADING ABOVE ALL SMAs.
Punjab National bank has tested the resistance zone/ supply zone multiple times. Hence the sellers are becoming weak now and buyers are getting stronger. If the buyers are able to close the price above the supply zone, the stock may show a good upmove.
My analysis is based upon Triangle pattern breakout and MACD as helping indicator. Pnb will touch 45 in next few days hence ver goof posiiton to enter target is 44.5 - 45
PNB has a very good technical structure on the hourly as well as the daily chart. We see that price has tested the support zone or the resistance multiple times and any up move from here may take the price higher up. This is also supported by the news that the The Enforcement Directorate (ED) on June 23 said that it had transferred a part of the seized assets in...
PNB Bank is showing 2 bullish patterns and also it gave golden crossover recently! lookout for the month of July, it's going to be the month where banking stocks dominate the market! immediate targets and SL are marked in pink.
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NSE:PNB working fine according to previous idea I posted a while ago. Again a breakout from patterns is expected in next week, sharing previous idea in the link below as well.
Pnb is making beautiful cup n handle pattern with testing the resistance trend line too, one can take positions for target upto 60.
Punjab National Bank is a very good stock, on the verge of breakout. I recommend this stock for the long term, as it has very high potential but has been severely beaten down due to the Nirav Modi fraud and a few other incidents. 1. Volumes are at all time high, suggesting market interest in the stock. 2. VERY undervalued for the sort of company it is, and...
VOLUME SHOCKER Buy Pnb Closing Price - 42.05 SL - 32 (Monthly Closing Basis) Target - 96/128
Clear cup and handle formed. Will touch 45 and it will be deciding post break out after 45. Lets wait and watch