PNB short The stock is currently in uptrend which is likely to reverse soon which mean soon we will see a downtrend
wait till Monday 31st may .. observe the stock... trade carefully
PNB trade ideas
PNB CMP 42.2PNB broke out rounding bottom pattern at 41.3 with huge volumes and closed at 42.15. Next targets are 42.8, 44.2, 46.25. Depth of the cup is 8,Breakout point is 41.3. Final target is 49.3
PNB likely in process of forming a base NSE:PNB Punjab National Bank likely in process of forming a base
This week of 24th to 28th May 2021 has started off with a 3% GapUp
High probability of hitting 42.5 - 44 range target.
Small possibility of testing 36.4 before resuming upwards
Inverse head and shoulder pattern breakoutA proper self-explanatory chart. Can be bought for a short term target of 42.
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Happy Trading :)
PNB LOOKING STRONG WATCH THREE LEVEL OF SUPPORT FOR TODAY FOR LONG , MONTHLY BASE HIGH CONSOLIDATION BRECKOUT LOOKING
PNB LongMy prediction is based upon Price Action Trading
- Ascending Triangle pattern breakout given by PNB
Entry = below 40
Target = 45- 47 ( Updated )
PNB: SLEEPING GIANT AWAKENDBuy PNB at Curent market price, sl: 38, Targets: 44,46,48+, horizon: 6W. Study Reverse head and shoulder pattern breakout.
INVERSE H&S BREAKOUT in PNBBullish Inverse head & shoulder breakout in PNB happening with volumes. Buy above 39 for 44/46/51. Invalid below 38 on DCB
#Pnb cash : Looks good above 41.10#Pnb cash -Positional for 2-3 months
24.05.2021
Buy Pnb cash above 41.10
& dips 39-40
stoploss 38
Tgt 44-46
(Sustain above 44 will target 54)
Cmp 39.80
PNB Positional Trade Opportunity above 40 TGT 45-50-60PNB at BO zone(Symmetrical Triangle Pattern).
Heavy Volume Accumulation going on since Jan 2021.
Buy above 40 SL 30 TGT 45-50-60
Never Put more than 2% of your capital in risky stock like PNB
PNB educational purpose PNB has given close above its multiple times tested resistance 39 with a good volume accumulation at lower levels and now closing above 39 is a good sign of trend reversal .. soon a good upmove can be seen in coming days
Pnb Breakout Pnb resistance breakout.
Head & shoulder breakout but not supported by volume.
Wait for retest before taking entry.
Further resistance near 43.
Caution: could be a false breakout
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PNB - looks good if it is able to cross a resistance of 38.5Good Notes for PNB:
* Consecutively 5th weekly green candle supported by good volumes
*Monthly candle above 20MVA
* Daily RSI around 58
* The daily and weekly charts show a squeeze pattern ready to breakout on either sides.
When to enter - if Daily RSI crosses 60 or crucial resistance of 38.5 is breached. On the Daily RSI, one can see that in the recent past, twice it has tried to cross the 60 RSI mark, but has retraced from those levels. With SBI posting strong profits and BNF recording a 1200 point move, PNB could be thrusted above Rs. 38.5 mark. Couple this with good results, the counter could go till 45+. It is a long term pick so those looking for a quick buck may avoid it.
Negative Notes:
* There has been very less momentum in the counter and hardly any good news for PSU banks all around.
* Monthly RSI is at 43 levels showing a vast gap between short term movements and long term movements. Those cautious may enter only once daily and weekly RSI are above 60
Daring PNB, crossed hurdle of 38 for the 7th timePNB. The stock has been facing stiff resistances at 38 levels since almost an year. As its the only stock which has been lagging behind of all the banking stocks. Being second largest out of PSU Banks Pack, retail investors have been continuing hunting this stock as its the only PSU/Banking stock which has been underperforming its peers. With a herd of retail investors holding the stock, its not moving much upwards. As big players dont want to carry such heavy load in its upward journey.
Now lets come to the technical part.
PNB has took support at its SMA100 at 34 on 26/04 it was a clear buy at that level as the SMA100 positive crossover suggests. The ones who entered got nice 10% gain.
Anyhow, if someone missed it, he/she could still enter the stock at its SMA200 Crossover at 37.
Now the first target seems to be 44 (around May'21 Expiry) and next could be 59 ( 3 months horizon).
Cheers!
Watchout for Resistance breakoutThe stock is looking good positionally above 39.2 level for targets of 44 and 46
