Punjab National Bank ( 40% upside potential)
Sector: Bank - Public
fundamentally strong public sector bank post very good quarter...
monthly as well as weekly chart shows strong uptrend with support of fundamental factors...
on Daily TF , price take support in HTF demand zone bollinger bands N RSI also support this zone....
long term investors can buy for the tgt 170 onwards...
swing traders can buy for the 148/150 with SL 114... swing high 143, W fib levels 148/165 may act as a resistance....
PNB trade ideas
PNB MOVING IN A PARALLEL CHANNEL - TIME TO ADD?PNB after breaking out of a Monthly resistance Trendline has been moving in a Parallel Channel from 30 January 24. It gave a false breakout and reversed from there.
The next support would be the monthly trend line or the Bottom Trendline.
Iam already invested and would be adding some more quantity @ around 120-122.
PNB, Intraday View for 22-MayAfter a strong break of structure, the price has been trapped in the compression zone. Also today the price is rejected by the resistance level of 128. The probability of a negative candle is more than 65%. For Intraday the level of 128 and 124 is important for trade decisions.
Intraday 5m | Trend Negative
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
PNB--Darvas box consolidation breakout with good volume
--retest done
--stock above ma
--Targets 144/162
Disclaimer:
- The view expressed here is my personal view
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
-- Do your own analysis and consult your financial adviser if needed
Basing Pattern BOThe script has formed a base of 6 years and has broken out positively.
If it can sustain the BO then higher levels are possible.
Greenline = Fresh BO entry
Redline=StopLoss
Blueline=Potential / Possibility
Never trade without a Stop Loss
--- --- ---
Discipline in trading means doing what you should do rather than what you want to do.
- Yvan Byeajee
2x Multibagger with Holding period of 1.5 to 2 yearOpinion
Upside 100% Target price of 280+ with Holding period of 1.5 to 2 year
Buying Range
Buy when stock price close above 133 and again close recent high in subsequent day
Basis of Opinion
# Reason for Fall from Rs. 280 to Rs. 26.20
1. Fraud in the Dewan Housing Finance Corporation Ltd (DHFL) account and Nirav Modi case and Bhushan Power & Steel Ltd
2. Bad results consistently till 2021
3. Market conditions during Covid-19
4. Government reducing stakes from company
# Reason for rise
1. RBI increased focus on banking sector
2. Consistent improve results after Dec 2020 and All time high quarterly/TTM results from 2012.
3. Improved in Quarterly NP%
4. Stable ownership by GOI
4. increase in FIIs and reduction in Public Holding
5. Reduced NPA %
Extras
1. Previously 2 times stock price has grown 1.5 - 2 times in 15 to 20 months (Low to High)
2. 50%+ upside if touched previous high (Rs. 202)
Punjab National Bank Analyasis on 17 Mar 24Punjab National Bank Analyasis on 17 Mar 24
Good public sector bank
Formation of cup and handle pattern
breakout of cut and handle after 2019
breakout level 90 to 100
try to buy on dip between 90 - to 100
stoploss 70
target 100 - 110 - 125 - 135 - 150
cup and handle target 165
Amazing breakout on Weekly / Daily Timeframe - PNBCheckout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!!
#No complicated chart patterns
#No big big indicators
#No Excel sheet or number magics
TRADE IDEA: WAIT FOR THE STOCK TO BREAKOUT IN LOWER TIMEFRAME AND RETRACE IF NEEDED. SL IS NEARER SUPPORT ZONE IN Daily TIMEFRAME.
PS: No new Nifty500 script can escape from me when making a breakout. :-)
PS: People who missed my first BO level, can re-consider this BO level when a proper candle close is seen in Daily TF.
PNB - Bullish Trend ContinuationThe upward-sloping line on the stock chart indicates a bullish trend. The breakout from the consolidation pattern is significant. The breakout is upward, which implies that the stock has broken free from the consolidation and is likely to continue its upward movement.
Disclaimer: The information provided here is for educational purposes only. It does not constitute financial advice or recommendations to buy or sell any specific stock. Always conduct thorough research, consider your risk tolerance, and consult with a qualified financial advisor before making investment decisions.
PNB - Ichimoku Breakout📈 Stock Name - Punjab National Bank
🌐 Ichimoku Cloud Setup:
1️⃣ Today's close is above the Conversion Line.
2️⃣ Future Kumo is Turning Bullish.
3️⃣ Chikou span is slanting upwards.
All these parameters are shouting BULLISH at the Current Market Price and even more bullishness anticipated AFTER crossing 137.
🚨Disclaimer: This is not a Buy or Sell recommendation. It's for educational purposes and a guiding light to learn trading in the market.
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PNB - SWING TRADE - 30th November #stocksPNB (1D TF)
Swing Trade Analysis given on 30th November, 2023 (Friday)
Pattern: ASCENDING TRIANGLE
- Neckline Breakout - Done ✓
- Retracement + Consolidation- Done ✓
- Pullback Candle - In Progress
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