PNB trade ideas
Watch out PNB above 46.50PNB is consolidating inside box..can enter after break out above 46.5 for momentum traders. For long term traders a good opportunity to accumulate inside the box. Stop loss can be placed below the box. comment your views.
Punjab National Bank BreakoutPunjab 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.
PNB My analysis is based upon Triangle pattern breakout and MACD as helping indicator. Pnb will touch 45 in next few days hence ver goof posiiton to enter
target is 44.5 - 45
PNB Possible Breakout on the hourly chart!PNB has a very good technical structure on the hourly as well as the daily chart. We see that price has tested the support zone or the resistance multiple times and any up move from here may take the price higher up. This is also supported by the news that the The Enforcement Directorate (ED) on June 23 said that it had transferred a part of the seized assets in cases related to fugitive billionaires Vijay Mallya, Nirav Modi and Mehul Choksi, to state-run banks and the Centre. This will support the breakout, if we get one. We should keep an eye on PNB in the short term.
PNB : short term buy on breakout...PNB : CMP 42.30
highlights
1. cup and handle pattern seen
2. on the verge on upper trendline handle breakout
3. increasing volume
4. recent news / fundamentals supportive
trade setup :
1.buy above 44.40
2. keep stop loss as 38 on closing basis
3. expected target 56.40 in shorter time ( monthly pick )
buying and target based on
cup and handle technical breakout
CUP & HANDLE PATTERN and FLAG PATTERNPNB Bank is showing 2 bullish patterns and also it gave golden crossover recently!
lookout for the month of July, it's going to be the month where banking stocks dominate the market!
immediate targets and SL are marked in pink.
PNB flag and pole patternThere is a formation of flag and pole pattern in PNB. once breakout, important level to watch out for is 43.05 (faced resistance many times before). above that, target would be the previous high of 45.00.
#79 PNB - Punjab No look Back.#79 (GENIE IDEAS): I will daily post intraday/swing/positional trading opportunities so u can analyse and get the most from it. if you like my analysis do like and follow me as a token of appreciation.and if you have any queries let me know.
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Update on PNB Idea!NSE:PNB working fine according to previous idea I posted a while ago.
Again a breakout from patterns is expected in next week,
sharing previous idea in the link below as well.
AFTER 4 YEARS DOWN TREND BREAKOUT ANALYSIS 22.06.2021BUY : 37 TO 35
TARGET : 55 TO 58
Reason For Buying This Script :
In this script after 4 years down trend line was broken & also it has retested in monthly time frame . It shows positive moment.
Don't miss this moment.
Note:
Above given levels are based on monthly & weekly time frame . So be patience it will take some days to achieve the target.
ALL THE BEST...
What Next With PNB. Wait and WatchIts made a cup and the handle is being formed.
The next support would be around the 38-39 mark. Would have to see if it takes support and bounces back to go long.
