Breakout ...Closed above Rs.40 after 3 years. TGT- 56/60/68/72
It looks like trading at very important level also called wait and watch zone , if it rosses 35 and give close above that level it may considered as breakout otherwise trend looks very negative.
pnb flag support now at where it is , resistance 64 69 next 35/40 27
sbin monthly ................................(OBSERVE WICK)
Entry near 130-132 Leg d of butterfly Wait for 50% correction of last impulse leg
PNb LOOKS scary unless close above levels mentioned , already deep red a DCB can definitely take place but overall a scary picture , hopefully not but !!!!
PNB BUY with SL 63 Trgt 78+ 2 Strategies mentioned post profits reported by PNB in Q1 earnings. Breakout expected in next week. OR Buy PNB 75 CE Aug19 @ 1.25 Buy PNB 80 CE Aug19 @ 0.60
1) Resistance and RSI at 60 2 )SL 318.6 3) High OI buid up at 320 4) Videocon bankruptcy and Jet airways exposure will make NPA number worse
FEDERAL BANK BUY NSE:FEDERALBNK Trades on NSE with 6 times its average volumes for second consecutive day. BUY NSE:FEDERALBNK at 80.5 Target of 88 and Stop loss of 77 on closing basis
SOUTHBANK traded on NSE with 7 times its average volumes gaining 16% in trade. Signifies a pullback rally. Buy SOUTHBANK on NSE at 14.4 Target 16.4 and Stoploss of 13.4
2 scenario under construction in the stock as even described in charts .
1) Has around 23000 Cr exposure to IL&FS 2) Formed double bottom - if it breaks down below- there can be a sharp fall!