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...
PNB is forming a Descending Triangle, look for opportunities as specified on chart.
Entry : 91.5 - 92 Range (Take Stance after getting a strong closing below given range)
Stoploss : 2.5% (Closing Basis)
Basic Target: 89
Optional ways : Derivatives are best case as expiry is just 7days away.
if you have any queries regarding above idea or any other stock...
PNB has been observing 60-80 zone as long term support zone since 2007. We've seen buying emerge in this range and then counter giving 100-300% kind of return 12-18 months time. 5 month SMA has crossed above 8 month SMA which signifies that bottom has already been formed at 60 level. Earlier incidence of crossover of 5 MSMA over 8 MSMA has resulted in big fall or...
Took some position above the neckline after PNB formed the Inverse Head Shoulder. The reversal has started and I expect the price to pull back to the neck line. Will take another position at this point. Target price is around 122
This month's pivot are wider than previous month's indicating a sideways market for PNB.
Short @ R1/H3 if not they are not breached within few days and Long @ L3/CPR.
Dotted layers(H1,H2,L1,L2) will be the layers over which the PNB is likely to move.
If CPR(Dashed Blue Lines) is breached and sustained, S2/L5 should be your short target.
PNB opened between H3...