PNB trade ideas
PNB Triangle PatternPNB has seen a traingle pattern. Perfect for a breakout but we can guess that it will go downwards due to corona effect.
PNB inside bar range breakout tradeBuy PNB above 36.50 with SL of 33
Sell PNB below 33 with SL of 36.50
Curious case of PNBWill + divergence on RSI be used to do mean reversion trade ? Hammer is also formed on weekly chart.
PNB - Uptrend moveThe first line drawn goes back to 2009. This support zone can be easily seen with a 1W chart and happens to be s good support zone. The second line drawn is a near term support line drawn to position ourselves. In the one hour chart, you can witness a good buy towards the close of the market and the day (5/2) didn't breach the second support line drawn. This looks to be a good buy on 5th Feb or atleast in the range on 6th morning and price to go up to 59 rupees as first target and can also possible continue breaching the 59 line support line..
PNB - Reversal CandidateStock has been on a falling trend-line & close above 68 is expected to trigger a huge upswing on counter.
View finds support around 47-48 on Weekly Closing basis.
Punjab National Bank - Multi Year LowStock looks attractive at multi year low and can be accumulated around 54-56 zone for a potential reversal.
Stops - Below 52. Resistance above 57.
Next Move This scrip is still in water , I dont see any upside move on immediate basis
You can expect one more drop before any reversal ,
Important to note is , The pain is not over yet , they move of price indicating its likely to remain in down ward direction channel
So one can look to trade with in this Zone
Support for PNBshort opportunity for PNB
PNB is at its hourly support and could break any time.
Keep eye on it.
PNB buy setup - Small risk high rewards!Buy PNB at CMP (62.50+) and on dips upto 61.50
T1: 66.50
T2: 69.50
T3: 73
T4: 78
SL: 59.90
PNB looking good for shortBearish engulf Candle at resistance and adx macd and RSI all are bearish.
TGT-74-76
Punjab National Bank Trading Idea (Swing)If the price breaks the last fractal top, go long.
Enter using Stop Loss limit order with the given levels in chart. ( CNC )
This buy signal automatically cancelled if another UP fractal is formed.
Vice Versa for short.
SHORT PNBShort PNB as the triangle is breached, Bollinger Band was contracting but now has expanded and will do so further because of the triangle's piercing
MACD showed a crossover 2 days before, Dark Cloud Cover candlestick formation with a Bearish Engulfing Candle shows high Bearish Sentiment.
EMA 20 is about to cross EMA 10 and give a Bearish crossover, the difference between them is of 0.09 bps
Closing of 7 DEC is well below 20 DEMA and new shorts were added on 7 DEC.
This makes me Bearish on PNB so go Short.
Happy Trading....
