Pnb Looks Good (Breakout & Retest)Hi friends sharing weekly chart of Punjab national bank and it is very easy to understand chart for everyone friends, as we can see that after a long consolidation of 4 years price gives a breakout from parallel channel after this breakout price moved good up but took a resistance from previous resistance zone and after it's successfully retested it's breakout zone and got a bounce from there so after this bounce price started again upwards movement so i am planning to go long in this counter for the targets shared on chart for this 69.50 is looking good and strong support for me guys.
Price took 20 Moving average support on weekly chart too
NOTE- Only for Education Purpose.
Please Give A Like If You Like
PNB trade ideas
Investment for next 5 yearsWeekly and monthly chart is looking good for next 5 years investment horizon, small dips will be buying opportunity and can accumulate, PSBs are ready to touch all time high in next coming years as Government has infused Rs 3,10,997 crore to recapitalise banks during the last five financial years i.e., from 2016-17 to 2020-21. Apart from PNB, SBI, Canara bank, Band of Baroda, City uniin bank, Bank of India, J&K bank, Indian Bank are also to set good numbers in next 5 to 10 years, so uptrend continue to be seen in this stocks for next 5 years, Any dip will be a buying opportunity.
#PNB LONG TRADE IDEA SETUPGreetings Folks,
today I have prepared a setup of PNB on NSE
the analysis is as follows-
-the price recently broke out of a bullish pattern
- The price is kinda stretched right now, can use some temporary support for more momentum
- i have marked the most immediate strong support zone
- this trade setup might play in 2-3 days as the support zone is not in reach of price right now
don't play with fire, always use a predefined stoploss
📉 Alert! Bearish Pattern Spotted! 🐻📉 Alert! Bearish Pattern Spotted! 🐻
📊 Pattern: Falling Channel
📌 Symbol/Asset: PNB
🔍 Description: Stock is in a falling channel. And it might take support soon.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
The name we can bank upon?Price is travelling within a parallel channel, has made a cup afterwhich it has been consolidating around the breakout line for 4-5 weeks owing to price memory from prior years.. a clean breakout will ope target of 78-80 and there is a gap waiting to filled in that zone...stop loss 58.50 on wcb
PNB next Potential Target according to Fibonaaci Chart Type : Candlestick
Time frame : Daily
Tool Used: Fibonacci Extension
Please note that this analysis is based on the geometry of the chart, it is not a data based analysis.
From March 2023 the price has moved 85%. But for analysis we consider a strong swing of 65% which is from July2023 to today's candle and the Fibonacci extension is not drawn on the log scale.
According to this setup the next potential target is at 89.85 which is a 23.60% level of Fib extension.
Thanks
Er. Simranjit Singh Virdi
PNB - Ichimoku BreakoutStock Name - Punjab National Bank
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 82
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
#CloudTrading
#IchimokuCloud
#IchimokuFollowers
#Ichimokuexpert
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, share & subscribe for daily analysis.
PNB - Punjab National Bank🔹 Technicals:
▸ Stock is in confirmed uptrend in the mid-term.
▸ Strong breakout in July supported by good volumes.
▸ Price is still above the key moving averages indicating a strong control of buyers.
▸ There is a demand zone near 20 EMA
▸ Previous swing high level near the 50 EMA
▸ A flip zone is present at 57-60 zone.
▸ This means there are plenty of support zones that can act as cushion and prevent the fall.
▸ Buyers will try to push the price higher once the overall market cools down.
Disclaimer: I am NOT a SEBI Registered Analyst and the information provided here is NOT investment advice. This post is intended solely for educational purposes.