NSE PNB is Preparing for a Corrective BreakoutTimeframe: Daily
NSE PNB is currently facing strong resistance at the 200 EMA on the daily timeframe. The price has completed a corrective W-X-Y formation on the daily chart, and the ATR has increased to 2.91.
The stock has reached the final wave V of C of (Y) at 103.62 and has started moving upward. If this marks the end of the correction, the price needs to break and sustain above wave iv at 112 . Upon holding above this level, traders can aim for targets of 117 – 126 – 137+. Even if the price falls below wave (Y), traders can only buy after the breakout of 112.
Stay tuned for further updates!
