This is my analysis and I am a beginner in this I can be 100% wrong. so do your own due diligence and don't invest blindly.
PNB in Range. Unable To Break Resistance. Good Volume Required for Breakout. All those Holding it Keep an Eye as it is on crucial Level This is Just for Educational Purposes.
In this analysis , PNB analysis been done based upon pure Triangle Chart Pattern , 2 month and 6 month target been given , 2 month target is based upon 1 day time frame whereas 6 month is based upon weekly time frame , In my opinion PNB is not fundamentally strong enough hence you should do your own research before betting . BAd news can impact stock performance...
Outperformer - 1) Reverse head & shoulder pattern. 2) Punjab National Bank up by 7.5% v/s NIFTY 50 up by 4.29% in last 1 month. 3) The stock is in the Buy Zone according to its historical P/E. 4) Stock is trading above all short and long term SMAs. Targets are: 58 and 66 in medium term.
PNB(D): LOOKS GOOD FOR MORE UPSIDE. 1) CUP WITH HANDLE FORMATION 2) VOLUME EXPANSION 3) TRADING ABOVE ALL SMAs.
IT IS SHOWING AN UPWARD TREND ON WEEKLY BASIS THE STOCK IS MOVING UP WITH GOOD VOLUMES AND IS FALLING WITH LESS VOLUMES IT CAN BE KEPT FOR LONG TERM AS WELL AS MID TERM NSE:PNB
PNB is consolidating inside box..can enter after break out above 46.5 for momentum traders. For long term traders a good opportunity to accumulate inside the box. Stop loss can be placed below the box. comment your views.
Punjab National bank has tested the resistance zone/ supply zone multiple times. Hence the sellers are becoming weak now and buyers are getting stronger. If the buyers are able to close the price above the supply zone, the stock may show a good upmove.
My analysis is based upon Triangle pattern breakout and MACD as helping indicator. Pnb will touch 45 in next few days hence ver goof posiiton to enter target is 44.5 - 45
PNB has a very good technical structure on the hourly as well as the daily chart. We see that price has tested the support zone or the resistance multiple times and any up move from here may take the price higher up. This is also supported by the news that the The Enforcement Directorate (ED) on June 23 said that it had transferred a part of the seized assets in...
PNB : CMP 42.30 highlights 1. cup and handle pattern seen 2. on the verge on upper trendline handle breakout 3. increasing volume 4. recent news / fundamentals supportive trade setup : 1.buy above 44.40 2. keep stop loss as 38 on closing basis 3. expected target 56.40 in shorter time ( monthly pick ) buying and target based on cup and handle technical breakout
PNB Bank is showing 2 bullish patterns and also it gave golden crossover recently! lookout for the month of July, it's going to be the month where banking stocks dominate the market! immediate targets and SL are marked in pink.