State-owned Punjab National Bank (PNB) recovered Rs 20,000 crore of bad loans during the financial year ended March 2019, almost double the recovery amount in the preceding year, its Chairman Sunil Mehta has said.
Ind-Ra downgrades PNB's Rs 6,750 crore AT1 bonds
India Ratings and Research (Ind-Ra) has downgraded Punjab National Bank's additional tier I (AT1) perpetual bonds worth Rs 6,750 crore by one notch to A/negative outlook from A+/negative.
The rating of the AT1 bond signifies the weakness in the standalone operations of the bank, the release said.
PNB HAS A PRICE RANGE OF 74 (GOOD SUPPORT) AND IF CROSSES 77.5 THEN 80 IS THE NEXT TARGET.
MAINTAIN PROPER STOP LOSS LEVEL AND TRADE AS PER THE DIRECTION.
IT IS OBSERVED THAT ENTERING AT 74+ LEVEL WOULD BE FETCHING.
Central Pivot Range below than previous month's, indicating bearish sentiment.
Opening between H3 and L3, H3 being very strong resistance.
Will reach L3 once, but more bearish movement can be expected.
Disclaimer: The indicators, strategies, columns, articles and all other features discussed here are for educational purposes only and should not be construed as...
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
PNB had given breakout from the inverted H&S with high volumes. Target of the breakout was 112 but counter retraced from 100 and again cam back to 87 level. Counter should take support around 84 which is 38.2% retracement of entire rally from 58 to 100. After 84 , next support comes at 80-81 range which is also a support of neckline. As counter drifted down from...