PNB is in the exact demand zones which i have marked as green and Supply exist at the red zone . One who look for the positional as a investment then this stock is in the attractive price and you can start accumulate until 55 levels, With a stop of 50.
AS YOU CAN SEE LONG TERM TREND LINE ON TOP MANY TIMES STOCK HAS TAKEN RESISTANCE FROM THIS LINE AS MENTIONED WITH RED ARROWS NOW WITH GREEN ARROW ON THE RIGHT STOCK STOCK CROSSED THIS RESISTANCE AND CLOSED ABOVE IT AND CAME BACK AGAIN TO THIS LINE AS SEEN WITH SECOND GREEN ARROW THIS TREND LINE WORKS AS SUPPORT NOW AS ONCE RESISTANCE BROKEN BECOMES SUPPORT FIRST...
POSITIONAL TRADE IN PNB
:-WEEKILY TRENDLINE IS ABOUT TO BE BROKEN
:-MOMENTUM GAIN IN RSI
:-POSITIVE CROSSOVER ON MACD
:-ABOUT TO BREAK ITS 20-WEEKLY -EMA
TRADE IN FUTURES NOV CONTRACT
PNB -Punjab National Bank Trades using Blue Sky Plus Indicator. Message or Comment to get a free trial of the indicator.https://www.tradingview.com/script/lqS4a5pU-Blue-Sky-Plus-Day-Positional-No-Repaint-with-Alerts/
Here I will apply something known as Average Directional Index (ADX).
As we know, the ADX line indicates the strength of underlying trend, be it upwards or downwards. It is composed of two other lines, +DI(green) and the -DI(red) line.
It indicates, how strong or weak the buyers or sellers are.
Few traders use this to understand the reversal of...
This is my analysis and idea of the upcoming movements of Punjab National Bank, NSE.
Till now the movements have indicated a reversal. We are seeing steep buys with a slow fall after that, which may indicate high volume traders grabbing positions while past negative sentiment(money scams) pulling the price slowly down.
But the possible reversal and company's...