Break Out Trade in Punjab National BankDate : 2-Feb-2022
Rating : Buy
LTP : Rs. 42.80
Target: Rs. 48-->60
SL : Follow the trailing SL indicated by the moving averages on closing price basis.
PNB has created a break out from the current secondary trend with very high volume . EMA, MACD and RSI are giving bullish signals.
Disclaimer: Investing in stock market is risky. One should do a self analysis and validation before investing in stock market.
Trade ideas
PNB Buy on Dips with Multiconfirmation indicates Bullish TradePNB Daily Chart
Reason for Bullish view :
1. Multiple Entry on Trendline indicates Buy on Dips. Refer Green Up Arrow.
2. Candle above 200 Moving average indicates bull run about to start for long term.
3. Daily Trendline break out with 200 MA breakout indicates confluence Trade so entred at 39.55
4. RSI Bullish Divergence in Daily Time Frame indicates Bulls are in Power.
5. RSI value above 60 indicates strong momentum.
6. Overall Momentum is Bullish
View : Bullish for long Term / Medium Term / Short Term
Buy @ 39.55
Stop Loss @ 38.00
Target1 : 41
Target2 : 43
Target 3: 45
Target 4 :48 +++++++++++++++++++++++++++++++++++++++++++
PNB (ON DAILY CHART)NSE:PNB
PATTERN - Flan N Pole
OVERALL VOLUMES - Increasing along with price ;
Decent delivery percentage, increasing day by day slowly from 16th Jun and yesterday's delivery percentage is greater than Past weeks
average.
May Create a New All time high !!
TECHNICALS :
RCI Short Term (9 Days) - Bullish
RCI Long Term (52 Days) - Bullish
RCI Medium Term (26 Days) - Slight Bullish
Punjab National Bank (LONG)Took support at 26
Bounced after consolidation
good volume coming
May give huge returns in coming 2 - 3 years
now trading above 200 EMA on daily chart
following Upward channel
Buy at 40 CMP
SL 25
Short Term Tgt 69 - 90
Mid Term Tgt 101 - 129 - 162
Long Term Tgt 180 - 197 - 231
Please do correlate by yourself also on charts. This is for paper trading and educational purpose only. Must consult your Financial advisor before investing.
Punjab National Bank (LONG)Took support at 26
Bounced after consolidation
good volume coming
May give huge returns in coming 2 - 3 years
now trading above 200 EMA on daily chart
following Upward channel
Buy at 40 CMP
SL 25
Short Term Tgt 69 - 90
Mid Term Tgt 101 - 129 - 162
Long Term Tgt 180 - 197 - 231
Please do correlate by yourself also on charts. This is for paper trading and educational purpose only. Must consult your Financial advisor before investing.