PNB BANK-Stock trading at strong resistance level on cup with handle pattern
- Stock sustain above 46.50 Next level to watch 56/67 levels
-Support is near 32 level on chart
PNB trade ideas
PNB --- WITH GOOD CHART (very bullish)it has made head and shoulder in 3rd wave which means after this breakout it can be doubled or tripled
PNB LongPNB Long
Buy at CMP- 43.7 or around 42
SL- 38.5
Target- 55, 67 and above
Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
Rounding bottom reversal.Keep accumulating on dips as this bank is under revaluation and looks good for long term.
Punjab National Bank Although I had kept an eye on this stock, I'm posting this on a couple of requests.
There are 2 prominent long weekly descending trend lines. I see quite a few resistances up to 43-45.
Above that the road seems less congested for a nice drive.
Risky traders can look to take it above 39.5 for a target of 42-45.
Long PNBPNB CMP - 37
Stop - 32 on DCB
Expectation -
1 - 47
2 - Review once 47 broken convincingly
Expected Holding Period - 20 trading days or earlier
Inverse head and shoulder Punjab National Bankinverse head and shoulder formation punjab national bank.crossing 44.80...45 give a breakout to 50..52..
PNB – Accumulation Phase with Volume wait for breakout.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 seen in this script around 33 to 39 levels. However selling Pressure seen around 42.55
Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
#PNB Looks to be a eligible counter for breakout above 46.5#PNB Looks to be a eligible counter for breakout above 46.5 / with a low risk entry above 44.5/45
It has been making higher highs and moving up in a nice pace to reclaim the resistances
The volume support has been increasing in the recent past and crossed 300M in the recent trading days
Note : This article is for education and research purpose only , Please consult your financial advisor before taking any investment decisions
PNB LOOKING BULLISH !!!Buy PNB at CMP for a target of 44+
sl: 38, horizon: 6W, all oscillators are positive
PNB bullish above Rs. 45Wait for activation i.e.
Daily candle closing above Rs. 45. (Low risk traders)
High risk traders can enter at CMP too.
Inverted head and shoulders also spotted, strong bullish signal.
Company expected to give a strong quarter as well.
Keep in watchlist.
NSE:PNB
BSE:PNB
No Lookback by PNB!!!Nice and strong base formation done by PNB. Near-term resistance and support are at 58 after that it will regain its old levels. Nasty volumes in Daily/Weekly/Monthly. Rising RSI in the weekly chart.
No Lookback by PNB!!!Nice and strong base formation done by PNB. Near-term resistance and support are at 58 after that it will regain its old levels. Nasty volumes in Daily/Weekly/Monthly
No Lookback by PNB!!!Nice and strong base formation in PNB. Resistance and support for near-term price are at 58 crossings that will regain their old level in 3digit.
PNB - On channel supportPrice rejected from the channel top and reached the bottom successfully. Now one can expect the price reversal once after breaking the trend line.
PNBSTRONG BUY CALL @ 37
TARGET 1 = 40
TARGET 2 = 45
TARGET 3 = 55++(OPEN)
STRICT STOPLOSS @ 34.50
Holding period 2-3 months
