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PUNJAB NATIONAL BANKPUNJAB NATIONAL BANKPUNJAB NATIONAL BANK

PUNJAB NATIONAL BANK

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PNB trade ideas

PNB Near Support – Potential Bullish Reversal PNB Near Support – Potential Bullish Reversal 4/1/24 Daily/Weekly Analysis PNB is currently trading near a strong support zone around ₹96, as identified by both horizontal and diagonal support levels. The technical indicators are signaling a bullish stance, with TradingView scans identifying the stock as bullish and undervalued. Key Levels: Buy Entry: Around ₹106.40, with a stop-loss below ₹96 to manage risk effectively. First Target: ₹142.90, where the price may face resistance. Second Target: ₹153.97, in case of a strong upward momentum. Technical Setup: Support: The ₹96 level has acted as a strong support, reinforced by the 200-week moving average. Trendline Analysis: The price is bouncing from a diagonal support, indicating potential upward movement. Risk-Reward: The risk is well managed with a stop-loss at ₹96, and the potential upside is significant. This setup suggests that PNB could see a bullish reversal, making it a good candidate for a swing trade. Keep an eye on key resistance levels and adjust stop-loss levels accordingly. Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Trading in the stock market involves risks, and it is important to conduct your own research or consult with a financial advisor before making investment decisions. Past performance is not indicative of future results. Always trade with risk management strategies in place.
NSE:PNBLong
by prince13amit
1
IF IT CLOSSES ABOVE THIS LEVEL - A BUY BUY BUY BUY CALL IN PNB"Everything is pretty much explained in the picture itself. I am Abhishek Srivastava | SEBI-Certified Research and Equity Derivative Analyst from Delhi with 4+ years of experience. I focus on simplifying equity markets through technical analysis. On Trading View, I share easy-to-understand insights to help traders and investors make better decisions. Kindly check my older shared stock results on my profile to make a firm decision to invest in this. Thank you and invest wisely.
NSE:PNB
by Abhishekingx
Punjab National Bank (PNB) Technical Outlook📌 Current Price: ₹100.53 (+1.05%) 📌 Sector: Banking 📌 Timeframe: Daily Key Observations: 1.Descending Channel: PNB has been trading in a well-defined descending channel since its peak of ₹142.40. The current trend remains bearish, with lower highs and lower lows. 2.Fibonacci Retracement: Major Levels: 0.618 (₹113.59) : Key resistance. 0.5 (₹104.69): Immediate resistance. 0.382 (₹95.80): Current support. 0.236 (₹84.79): Next critical support if the stock breaches ₹95.80. 3.Support and Resistance Levels: Support: ₹95.80 (holding strong for now). Resistance: ₹104.69, followed by ₹113.59. 4.Volume Analysis: Declining volume suggests indecision among traders, indicating a potential consolidation phase. 5.RSI (Relative Strength Index): RSI shows the stock is moving out of oversold territory, which could trigger a short-term bounce. Jefferies Target 🎯: Revised Target: ₹135 This aligns with the 0.786 Fibonacci level (₹126.26) , a crucial point where PNB would need to break out of the descending channel and confirm a trend reversal. Potential Scenarios: Bullish Case: Bounce from ₹95.80 and breakout above ₹104.69. Sustained buying could push the stock to ₹113.59 and eventually to ₹126. Bearish Case: A breakdown below ₹95.80 could lead to a retest of ₹84.79. Failure to hold ₹84.79 might push the stock to its next support zone around ₹80. Trading Strategy: 1.Short-Term Traders: Watch for a breakout above ₹104.69 for a quick target of ₹113.59. Stop-loss: ₹95. 2.Long-Term Investors: Accumulate near ₹95.80 or ₹84.79, keeping ₹80 as a long-term stop-loss. Final Thoughts: The stock's long-term prospects remain aligned with its sector growth and broader market recovery. A breakout from the descending channel could attract significant buying interest, aligning with Jefferies' bullish target of ₹135.
NSE:PNBLong
by AngshumanSaikia
PNB swing trading setupChart Analysis: 1.Descending Trendline: The chart shows a clear descending trendline acting as resistance, with the price making lower highs. This signals a prevailing downtrend, and any break above this line with significant volume could indicate a reversal or trend change. 2.Support Zones: •There is a key support zone near the current price level, as indicated on the chart. This level has held up on previous occasions, making it a potential bounce or breakdown point. •Below the main support, there is another secondary support level which could act as the next stop if the primary support breaks. 3.Resistance Level: The chart highlights a resistance level just above the current price action. If the price approaches this zone, it may encounter selling pressure unless accompanied by strong buying momentum. 4.RSI Indicator: The RSI appears to be in the mid-range, indicating neither overbought nor oversold conditions. This implies a potential for a move in either direction, depending on market sentiment and volume. Swing Trading Strategy: 1.Bearish Setup (Preferred Scenario): •Entry: Enter a short position if the price breaks below the support zone with a convincing candle (strong red candle on high volume). •Stop Loss: Place a stop loss just above the descending trendline or above the breakout point to minimize potential losses in case of a reversal. •Target 1: First target would be the next significant support level as highlighted on the chart. •Target 2: If momentum continues, you can extend the target further down to historical support or key psychological levels. •Trailing Stop: Use a trailing stop once you reach Target 1 to lock in profits if the price moves favorably. 2.Bullish Reversal Setup: •Entry: Consider entering a long position if the price breaks and closes above the descending trendline with strong bullish momentum and high volume. •Stop Loss: Place a stop loss slightly below the breakout candle to mitigate risk of a fake breakout. •Target 1: Aim for the immediate resistance level. •Target 2: If bullish momentum sustains, consider further targets based on historical resistance levels. •Trailing Stop: Implement a trailing stop after reaching Target 1 to protect profits while allowing room for further gains. Risk Management: •Position Sizing: Only risk a small percentage (typically 1-2%) of your total trading capital per trade. •Confirmation Signals: Look for confirmation with volume spikes and candlestick patterns before entering any trades. •Market Conditions: Consider broader market trends and sentiment as they can heavily influence individual stock movements. Additional Tips: •Be cautious of potential fake breakouts, especially around major trendlines or key levels. •Monitor volume; a lack of volume on breakouts or breakdowns can signal weak moves that may reverse quickly. Disclaimer: This information is for educational and informational purposes only and should not be considered as financial advice. Trading and investing involve significant risk of loss and may not be suitable for all investors. Past performance is not indicative of future results. You should do your own research and consult with a licensed financial advisor before making any investment decisions. The author of this content does not accept any liability for any losses or damages arising directly or indirectly from the use of or reliance on the information provided.
NSE:PNB
by tintinhawk
1
BUY at zone - swing / intradayENTRY - lines marked below is potential reversal zone ( PRZ) - entry is strictly inside the zone - look for buying confirmation in smaller time frame ( 15 minutes preferred ) EXIT 1. target - mark fib retracement from C to latest swing low - TGT 1 - 0.236 fib level ( intraday tgt) - TGT 2 - 0.382 fib level - TGT 3 - 0.5 fib level ( preferred target ) 2. SL - candle close below (PRZ) - if u didn't get confirmation inside the zone , ignore this pick - if candle close is below zone , this pattern becomes invalid . IGNORE THIS PICK - RE-ENTRY can be done , if u again get buying confirmation inside the zone
NSE:PNBLong
by rajeevmmails
PUNJAB NATIONAL BANK S/RSupport and Resistance Levels: Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:PNB
by zenthosh
PNBPunjab National Bank (PNB) is a state-owned bank offering a wide range of banking products and financial services to individuals, businesses, and the government in India. Current Stock Price (as of July 5, 2024): ₹122.80 Recent Performance PNB's share price has gained 26.92% year-to-date but is down 9.89% in the last 3 months. The stock has been trading in a channel range recently. Technicals PNB's stock is currently trading in a channel range. A break above ₹126 could signal a potential long opportunity with targets of ₹404, ₹598, and ₹917 (these targets seem very ambitious and should be viewed with caution). Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions.
NSE:PNBLong
by Kaviarasu_Chandrasekar
4
SELL PNB spot cmp 133 target 110 SL 139Technically, there is a distribution going on and sign of exhaustion in strong rally. Multiple times the stock face correction from higher level and then later on it only managed to cross the previous high by some margin to fall again. This means big players selling their delivery. Fundamentally, its already overvalued with high PE and fairly valued Price to Book. So combined analysis says that it can fall to 110 levels soon with any support from market fall.
NSE:PNBShort
by PrashantDahale
PNB The Best Investment Opportunity ! ! ! We see Wave 1 and 2 both are completed and Wave 2 has retraced Wave 1 by less than 100% which suffices the rules of the Elliott Wave Theory, Now forms the Wave 3 the Most awaited the most powerful the most wanted and important wave for every trader, This Wave 3 has the maximum potential. According to the Elliott Wave Theory these are the Extended Fibonacci Levels giving us the leading information instead of lagging. HAPPY INVESTMENT ! ! ! !
NSE:PNBLong
by WavesandZones