The stock had formed a good bearish candle on Thursday and then it opened gap up and maintained the strong momentum with great volume the entire day on Friday also breaking a short term downward sloping trendline indicating a strong upmove in the days to come. It is good buy at cmp with a target of 1685 and a stop loss of 1496.
PNBHFL is at a trend line resistance& is quite expensive on FY18 basis when compared with peers like Canfin,Ibulhousing. If charts pattern repeat it could consolidate here for a while or could correct to the levels of 1500&1460. RSI is also showing overbought Sign.
SO THINK BEFORE ENTERING IT NOW.
PNB Housing Finance beautyfully taking support over 50 Days EMA and on that trendline..
Previously also I had mentioned this stock during correction and it has given handome returns... :D
(link: )
Good Risk Reward and high probability trade...
Targets are 1350/1500/1690
SL 1130 which should be trailed below trendline support
Note: Do your own...
PNBHOU has taken a support over 50 days Exponential Moving average and is now in a strong uptrend with higher volume.In terms of fundamentals it is investment stock. Stock is good for a return of 25-30 % in 10-20 days.... In terms of risk and reward it is best pick...
target 1 :1050
target 2 : 1080
target 3 :1110 +
SL : 1010
