PNB trade ideas
PNB - Double Bottom - Breakout - LongPNB has formed double bottom and it has provide breakout the neckline above 38.65 which has strong resistance in daily time frame.
Hence, the breakout has happended we can go for long
Buy Above 40
Target - 52
SL - 30.50
Disclaimer: Kindly do your own analysis before executing the trade
Punjab National Bank PNB Bullish BreakoutPNB NSE:PNB recently had a breakout from resistance levels of 38.5 from which it faced rejection thrice earlier.
On the daily timeframe, the script had earlier broken out of long term down trend line making Double Bottom at 26.5 levels.
PNB broke out of 38.5 resistance levels on back of high volume & reversed from the same levels after testing the levels on back of low volumes (resistance now turning support).
38.5 now seems like a good support for further up journey.
On a weekly timeframe, once bounced from 26.5 second time, clear volume expansion with wide range buying candles indicates buying conviction.
Seeing the rally in banknifty, PSU Bank's participation was quite low. Now that Private banks have somewhat reached their saturation levels, PSU banks can lead the rally.
After crossing the hurdle of 38.5, we may see PNB gliding away to next big hurdle of 55 levels.
So longs can be initiated from current levels for targets around 55 with SL at 35 (the low of wide range & high volume breakout candle).
PNB Wave Count PNB has recently showed the move. It has given the break-out on the levels of Rs. 38.This is a slow-moving python, Wave count suggests that we are in to very short time correction which is infolding now. Possible first leg of in the form of Zig-Zag is unfolding, which would complete the wave A downwards. Currently we are in wave - b of first leg of correction.
This is my opinion, please invest on your own risk.
CANARA BANK Is it aiming for a long term resistance zone @ 60?CANARA BANK
Is this counter aiming for a long term resistance zone of 60? Watch this chart. If sustains 60 the level of 100+ should take it to 180+ but before all that it should immediately try to test the long-term resistance zone (which is the earlier support zone).
I will share the Bullish Harmonics plotted on the weekly chart (though it's Incomplete - a kind of preempting probability of risk-reward should always be in favor of traders)...
So, it is suggested to go on Cash...
Buy with a stop of a close below @ 25
PNB Is it aiming for a long term resistance zone @ 60?Is this counter aiming for a long term resistance zone of 60? Watch this chart. If sustains 60 the level of 100+ should take it to 180+ but before all that it should immediately try to test the long-term resistance zone (which is the earlier support zone ).
I will share the Bullish Harmonics plotted on the weekly chart (though it's Incomplete - a kind of preempting probability of risk-reward should always be in favor of traders)...
So, it is suggested to go on Cash...
Buy with a stop of a close below @ 25
PNB 1D BULLISH DOUBLE BOTTOMTHE STOCK HAS MADE A DOUBLE BOTTOM AND HAS GIVEN A BREAKOUT OF THE RANGE RECENTLY
YESTERDAY RETEST OF THE PREVIOUS RESISTANCE HAS BEEN DONE BY THE STOCK NOW IS READY TO INCH FORWARD FOR THE TARGETS
THE VOLUMES ON THE BREAKOUT DAY LOOKS VERY PROMISING
THE STOCK HAS POTENTIAL TO DOUBLE FROM HERE
ONE CAN GO LONG FOR THE TARGETS MENTIONED ON THE CHARTS
Breakout in PNB PNB has given breakout ( double bottom pattern as well as long term trend line) on daily chart . This breakout is supported with huge volume . post breakout, it has tested the support and ready for fresh upmove. Minimum upisde should be about Rs 50
Disclaimer : for education purpose only
PNB Double BottomPNB has given Perfect BO with High volume and today it has retested the resistance and made it has support before making new high.With sl of 37 can go long.
Educational view only.
PNB ready to 51+ Target after parallel channel breakoutIn today's session, we have seen a strong buying volume in PNB near the breakout level of 38.70. After a breakout of this parallel channel, getting the next target according to a pattern is 51+. Possible this stock can trade above 59 in this month.
Possible Trade:
Buy PNB Above 38.50
Stop-loss - 35
Target 51 59+
PNB - what a breakout with volume TARGET BIG!!!We have earlier recommended at 35 levels and after so many weeks of consolidation, stock has given beautiful breakout with good volume. Expecting huge upside in the coming months. Chart looks good.
PNB break out More than 50 % Target can be achieved…Just crossed the resistance with huge volume. Target is mentioned in the chart.
Punjab National Bank InvestmentPUNJAB NATIONAL BANK
#INVESTMENT
BUY PNB above 40
ACCUMULATE TILL 32
SL 24 (CLB)
TARGETS 75-150+
3YEARS HOLDING
SMALL PLAYERS START DOING SIP IN THIS STOCK
#ankur #investment
