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...
PNB can go long with Sl of 35.50 Target as seen in chart. Almost 1:2 risk reward ratio. Volumes not heavy but Healthy.
The above post is only for educational purpose.
NSE:PNB
Punjab National Bank is in Range for last $ days if it breaks level of 39.75 it will be the best opportunity to book some profit from long position or Short for intraday trading as its in down trend the bearish pressure will be high and will be able to make some good profit for intraday. Please Leave Your Idea or your View in the comment box so it can be helpful...
PNB 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...
PNB
Buy-Above 38
Sl-35
T- 43 47 50+
All banking stocks have almost the same structure after 35500 in banknifty was taken out.
The stock is good in terms of risk and reward.
7 jan 2022
stock in uptrend
volume accumulating
swing trading
triangle breakout
very short term target 43 (12%)
long term target 59 after breakdown at 43 (52%)
please appreciate work by liking it
PNB has broken long term channel on lower side, not a good sign in short term if retest doesnt break above.
levels to watch
1. view negated when close in channel
2. short below 36.75
3. nearest support 35.5/33.5/31.5
PNB is trading in one channel from last 1 year. Again reached at bottom of the channel.
Good buy for short term as well as long term.
30-35% up move expected in next 50 trading sessions.
PNB a straightforward buy as it has formed a doji on weekly timeframe and just reversed from multi-year support.
PNB as a bank is continuously improving, as financials are improving.
~20-30% in 2-3 months period can be achieved.
Target: 48-49 in 2-3 months time period
Disclaimer: I am not sebi registered. This chart is for educational purpose. Pls consult your...
NSE
