PNB Hourly looking bullish. It has trendline breakout/flag and pole breakout. Good to buy at 62.60 for target of 69 with sl below 61
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pnb is in a double bottom pattern and at strong support so you can make entry according to the chart
note:- only for education purpose not and we are not responsible for any losses.
Punjab National Bank - as we suggested 28 36 now make high 64
Time Frame - Weekly and Monthly
as per set up we can see long term PNB 77 96 124 to 184+
Major resistance REd trendline.
Ideas - Buy in each dip to hold for long run.
Disclaimer - Just for Education Purposes.
PNB is about to Channel Breakout above @53.90 after a long period (Six Months)
Breakout Level: 53.90
Target Price: 62.00
Stoploss Price: 49.00
Key Factor:
PNB traded above EMA 200 (47.92)
About to break strong resistance level @53.50
If PNB close above @53.90 its should be Bullish run till @62.00
PNB negative run possible if it breaks downside channel approx. @51.00
Punjab National Bank Stock Targets 2023
PBN Stock 94 % up in Last One Year
PBN Stock 17 % up in Last One Month
Punjab National Bank upgraded from mid-cap to large-cap
Breakout indicates a potential upward trend in the stock
Future Targets
Up Side First Target as per Analysis is = 69
Up Side First Target as per...
PNB formed this beautiful symmetrical Traingle. .. yes it might correct till 50 or 48, but this correction will be exit all weaker hands..
Stage is set for clear run-up till 62....... and then will review further.
Don't buy in options -- huge lot size and script often goes in FnO ban..
Only buy in delivery..
Whole banking sector looks undervalued. Specially PSU Banks.
PNB is a perfect example of an unmoved stock. Making a good price action. (Triangular wedge formation). It is well undervalued and Fueled up (60% of book value). Keep adding on dips till 35.
Targets:
1st - 47
2nd- 57
Some resistance near 56-58 zone. Keep Booking as per your appetite.
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
After analyzing PNB's stock, there are indications that a potential breakout may occur in the near future
it's important to note that stock market investments come with inherent risks, and accurately predicting breakouts or price movements is challenging. It's advisable to consult with a financial advisor or conduct further research to validate the analysis and...
