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PSUBNKBEES, Another chart worth risking. By #The_RedTickerI must admit, its been a while since I have stumbled upon a chart so simple yet so valuable. Simple falling channel , with one of the bottoming out patterns, (book-ish) Inverted Head & Shoulder . Volume Indicates, I am late to spot this...but not too late as the pattern is just on verge of completion. Should be a slightly MID-LONG term 'investment' kind of Long trade....but the current risks to prospective rewards look just too good. May the odds be in our favor!!
NSE:PSUBNKBEESLong
by The_RedTicker
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
NSE:PNBLong
by Chinmayonniftyy
5
SBIN: THE BANKER TO EVERY INDIAN 🔥SBIN: INVEST IN ONE OF THE UNDERPERFORMING SECTORS. Reason why I am very very bullish on "SBIN" 1) I have my personal Bank account with SBIN. 2) SBIN has formed acceding channel pattern, the stock has been trading within the channel since 2007, finally gave a BO with huge volumes. 3) SBIN has Strong Balance sheet. 4) SBIN profitability does very well as the economic cycle turns. 5) The credit cycle has just turned. Going ahead, there will be a lot of demand for money. The cost to income ratio of public sector banks is going to come down. There will be pricing power as there will be demand for money. 6) Morgan Stanley and notable brokerages have retained overweight rating on this stock. According to me, SBIN TARGET: 650 HORIZON: 6M
NSE:SBINLong
by Chinmayonniftyy
2