PNB trade ideas
AFTER 4 YEARS DOWN TREND BREAKOUT ANALYSIS 22.06.2021BUY : 37 TO 35
TARGET : 55 TO 58
Reason For Buying This Script :
In this script after 4 years down trend line was broken & also it has retested in monthly time frame . It shows positive moment.
Don't miss this moment.
Note:
Above given levels are based on monthly & weekly time frame . So be patience it will take some days to achieve the target.
ALL THE BEST...
What Next With PNB. Wait and WatchIts made a cup and the handle is being formed.
The next support would be around the 38-39 mark. Would have to see if it takes support and bounces back to go long.
PNB Possible breakout in pnb
1.inverted head and shoulder
2. cup is formed waiting for a breakout in handle
PNB Big Breakout coming !!!Pnb is making beautiful cup n handle pattern with testing the resistance trend line too, one can take positions for target upto 60.
PNB: HIGH POTENTIAL BUT GREATLY UNDERVALUED STOCK!Punjab National Bank is a very good stock, on the verge of breakout. I recommend this stock for the long term, as it has very high potential but has been severely beaten down due to the Nirav Modi fraud and a few other incidents.
1. Volumes are at all time high, suggesting market interest in the stock.
2. VERY undervalued for the sort of company it is, and business it does.
3. Mehul Choksi could get deported to India any time soon. The ensuing trial could help PNB realize a portion (if not all) of the bad debts written off immediately after the fraud took place.
4. Look for weekly candle closing above 44-46 range for targets of 60/110/160/200+
PNB - Ready For 50% Upmove ??? VOLUME SHOCKER
Buy Pnb
Closing Price - 42.05
SL - 32 (Monthly Closing Basis)
Target - 96/128
Best PSU bank to bet onAscending traingle pattern formation, breakout expected above 44-46 range.
Look for entry above those levels.
Targets T1 T2 mentioned on Chart.
Counter, looks quite undervalued.
Pb ratio: 0.72
RSI on monthly time frame at 40-42 levels. Looks good for entry at these low valuations. Government has confirmed that it will be one of the two PSU bank along with BOB that will be privatised.
Results came short term traders booked profit, almost 6% away from 52 week high.
Momentum traders: Can bet on this counter for next 6-10 months for almost 30-50% returns. ( The best thing is that the banknifty is still quite underperforming as compared to Nifty. Once 35500-35850 levels are crossed decisevly. Banks will lead the next rally.
Investors: This stock can give 300-400% returns in 4-5 years time frame. Can go long on this.
Happy Trading/Investing
Bullish View - PNBClear cup and handle formed. Will touch 45 and it will be deciding post break out after 45. Lets wait and watch
PNB Bearish flagBearish flag on the PNB daily chart, let's see how the results will affect the techs.
PNB: MULTIBAGGER OPPORTUNITY IN A FRONTLINE SHARE !!!It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price. PNB is looking very bullish. Buy pnb at cmp for 56+ levels.
