PNB trade ideas
PNB buy...Seems like Elliot Wave is forming.
One can start pyramiding from current levels, and buy aggressively when it breaks the swing high of 39/-
Keeping initial SL of 38.5/- & further start trailing it as the resistance becomes support.
Keep WatchingAnalysis:
a) Wave 2 and 4 are at 0.5 retracement level and wave 5 couldn't significantly cross wave 3 ending due to high bearishness succumbing to double top formation. A new wave 1 is expected to start after breakout.
b) A wedge formation at a historical support line. However the structure is below 20EMA line. Wait for more confluence.
c) Price Action indicates accumulation at dips. Might result in a positive breakout.
buy for ITRADAY/POSITIONINTRADAY/POSITION BUY= 34.10 TO 34.20, S/L 32.70/32.20, TAR 32.65 TO 35.60/POSITION, 32.65 TO 56.10
PNB - Bearish Flag patternNote: This is for educational purpose only.
PNB seems to be forming bearish flag pattern with high volume.
Idea on ride of wave 3It has completed wave 2 with less than 61.8% retracement and started the journey of wave 3 with gap up and good volume.
It should go till 44, I will check again when it crosses 43 with SL 34.6.
PNB GOING TO SEE 72+++++ SHORT TERM INVESTOR RECOMMENDINGPNB GOING TO SEE 72+++++ SHORT TERM INVESTOR RECOMMENDING
PNB waiting for a strong breakoutPNB waiting for a strong breakout
PNB reports fall in Q4 net loss at Rs 697 crore; asset quality improves
PNB Trading SetupDisclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
