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PUNJAB NATIONAL BANKPUNJAB NATIONAL BANKPUNJAB NATIONAL BANK

PUNJAB NATIONAL BANK

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PNB trade ideas

Simple Trade Setup | PNB NSE:PNB I am posting this on request from a follower on Twitter. Observations: 1) On 1 Day time frame, we can see that it has support at 44 level and resistance at 46 level. And it closed just below the resistance level. If it gives sustainable breakout of 46 level and sustain above 46 then we can see further up move till 48 and 50 level. But if it faces resistance from 46 level then we can see a downfall till 44 level. My personal opinion is that better to trade with equity in this at this moment with positional trade. Please refer below chart : 1day Time Frame.
NSE:PNB
by Trading_hawk
PNB: Weekly Breakout with volumeIdea is self explanatory... In weekly chart stock is giving breakout with good amount of volume. I have provided SL along with 3 targets. Keep in mind book partial profit with every target and 3rd target may take time with few consolidations. Note: I'm new to technical analysis, do your own maths. I'm open to new ideas and flaws in my analysis, so please do comment and collaborate. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial adviser before taking any trade.
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NSE:PNBLong
by hrprtsnghsht
35
PUNJAB NATIONAL BANK LTD.One of the largest PSU Bank of India has hurted many investors in recent years. Although it needs courage to comment anything about this stock but analysing the pattern carefully, I have started feeling positive about this stock. From its peak the counting of the 5th wave seems completed. But the upside reversal is not yet confirmed.It needs to trade above the 135 Trendline for that. To be precise above 43.10 on weekly closing basis (as this is a weekly chart). Once this is confirmed and the wave enters the desired zone then it can give a easy run upto 59.70(first target) - 72.50(second target). It has recently taken the 135 trendline as resistance but I hope soon or sooner it will breakout into the desired zone to run for the targets.Of-course patience is required when we are targeting above 50%-70% return. We need to understand :The condition of bank is definitely reflected in its share price, because market is always right. But let's be honest, will the condition remain same for the PSU Banks. Isn't it too long for the things the way they have been ? The very basic of Technical Analysis states,If a stock or index is in a pattern and if there is no news, market will make one to complete the pattern. Lets not forget market is a leading indicator not a lagging indicator of economy, Similar is with the share prices too. A small changes(hope) can make the share price fly even if it is not implemented and haven't changed the income statement but will in future .So lets be positive and hope for the best. Ultimately I am just a chartist and i can go wrong. Please like and Follow. CHART & ANALYSIS BY ADARSH DEY
NSE:PNBLong
by AdarshDey
1