NSE:PNB
I am posting this on request from a follower on Twitter.
Observations:
1) On 1 Day time frame, we can see that it has support at 44 level and resistance at 46 level.
And it closed just below the resistance level. If it gives sustainable breakout of 46 level and sustain above 46 then we can see further up move till 48 and 50 level.
But if it faces...
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...
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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...
