today I have prepared a setup of PNB on NSE
the analysis is as follows-
-the price recently broke out of a bullish pattern
- The price is kinda stretched right now, can use some temporary support for more momentum
- i have marked the most immediate strong support zone
- this trade setup might play in 2-3 days as the support zone is not in reach...
BUY - PNB
CMP - Rs. 51
Target - 1: Rs. 60
Target - 2: Rs. 68
Target - 3: Rs. 89
Technicals - Bullish Flag BO
This is just a view by an expert analyst, please trade at your own risk.
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On a weekly chart, the stock emerging out of the base could be an ideal buy zone (65-68).
Maintain a strict stop loss between 5-8% incase the trade goes wrong.
PS: Not a buy/sell recommendation. Do consult your financial advisor.
This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. ...
If you wanegative but revenue increased
2. Punjab Nationalnt to go long then I will suggest you to buy near the trendline and then add Qty after the ascending triangle get broken.
1. Earnings were Bank raises Rs 1,919 crore via bonds - NEWS
Please like my idea if you really like it and happy trading! NSE:PNB
I am posting this on request from a follower on Twitter.
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...
price in correction, i'm expecting small upside in 1 hour movement then downside to complete the pattern, you can look for entry around 61 fib its also a support level if you are into support resistance. wait for it to finish the correction. I have also attached my monthly view of the chart in link.
Inside Bar Breakout (Daily Basis) - Volumes increased with Breakout
Moving in a Parallel Channel (Moving off the lower channel)
Targets: As mentioned in the chart
Analysis ONLY - NOT a Recommendation
One of the largest PSU Bank of India has hurted many investors in recent years. Although it needs courage to comment anything about this stock but analysing the pattern carefully, I have started feeling positive about this stock.
From its peak the counting of the 5th wave seems completed. But the upside reversal is not yet confirmed.It needs to trade above the 135...
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.
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