PNB Above 39.7 Target 39.9 and Second Entry @ 40.75 Target 41.5PNB Above 39.7 Target 39.9 and Second Entry @ 40.75 Target 41.5 /43.05
PNB trade ideas
PNB - Punjab National BankResearch pick:
Reasons supporting the pick:
1. Second largest PSU Bank in terms of market capitalisation.
2. PNB’s merger with United Bank of India and Oriental Bank of Commerce has improved the PAT (profit after tax) for three straight quarters of FY21 i.e ₹ 538 crores in Q1, ₹ 576 crores in Q2 and ₹ 747 crores in Q3. NII has been improved over 80% on a YoY basis for Q3.
3. FII’s holding has increased from ~1% to ~4% which signals a strong bullish bias towards the bank. Huge volumes of shares are being traded for close to 7 trading sessions
4. Government of India’s emphasis on Privatisation of PSU’s will leave a lesser count of PSU Banks in India and PNB is expected to remain on the PSU Bankside.
5. Stock is trading/consolidating in a lifetime low trajectory of 26–39 for close to a year now. The all-time high of the stock is 279.8 which is far away from the current levels. Therefore keeping the range of 26–39 as a strong base, the stock has only one way to move i.e up.
6. Technically speaking, the stock is trading at 0.64 times its book value and appears to be undervalued given the above-mentioned reasons.
Talking about targets (Daily time frame):
The stock has a strong resistance zone at 40 .55–42.80 and a strong support zone at 32.50-34.50 levels and hence perfect time to invest would be when the price is close to the support level or breaks the resistance zone i.e above 42.80.
The first target for the stock would be 53+ and the second target would be 70+ in months to come.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
Punjab National Bank - Pennant PatternPNB is making Pennant Pattern, both rising support and falling resistance are squeezing the price.
PNB - Ascending Triangle Pattern - Short term SwingThis analysis is purely based on price action and Chart Patterns.
The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days.
Trade logic with SL and Target is explained in image itself.
Don't chase the price. Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
PNB - CMP 37.0PNB - 37.0, PNB has gone through rounding bottom pattern. Depth of the cup is 7.35 points. The target is depth of the cup plus price of the cup top = 33.95+7.35 = 41.3. It exactly went up to 41.25 and reversed from there. Then comes how much retracement shall happen. If you take Fibonacci retracement levels the last retracement level is 61.8% of total rise. Here total rise is 14.6. So 61.8% of total rise is 9.02. Hence it shall fall to 32.2. However it made closing low of 31.5 and started raising upwards. Presently it is at 37 and trading in a upward closed triangle. Today it exactly closed at end of the upper line of edge and may break tomorrow. If it breaks the triangular range it can immediately go to 41.2 and above. MACD signal line crossed trend line and is making bullish divergence, RSI also above support line and is bullish. This is for educational purpose and any investment shall be done after prior consultation of financial expert.
PNB- Huge Breakout ExpectedPNB is looking very Bullish, Closing above 200 EMA, Retraced 50% from the bottom as per Fibonacci Levels with Huge volumes.
Good Positional Trade.
Target 1 - 38.35
Target 2 - 41.35.
If sustains above these levels hold for 45 and 50 levels.
PNB looks good for a longI am expecting that we should get another entry at 32.5. MACD looks bullish as well.
PNB CMP 32.4PNB CMP 32.4 - PNB consolidated well between 26.5 to 28.5. Subsequently it broke out from these levels to reach a high of 42.65 on 9.12.20 subsequently it corrected and consolidated around 61.8% Fibonacci retracement level. It started its upward move since yesterday. Upward move is confirmed in hourly charts. RSI also started its upward reversal and MACD signal red bar started reducing. All these are positive indications for its upward move. Also it is in F&O ban for quite some time by creation of shorts. Since last few days short covering is happening and may come out of ban before December expiry. Similar things happened in last week of last month expiry and last week of expiry it made continuous four green candles and made a rise of around 10%. Expected similar events may happen now. Longs can be initiated with a SL of 30 for a targets of 33.95, 36.35, 37.7, 41.2. This is for educational purpose only and any investment shall be done in consultation with financial expert.
Breakout in PNB👉 High volume on weekly breakout candle.
👉Weekly closing above 200 DMA.
👉Box Breakout.
👉Bullish setup.
PNB - Round Bottom BOPNB broken round bottom neckline with super huge volume. It might test neckline before giving upmove. Targets on chart...
PNB long Please stay cautious from retests
the price may come down to restest the levels and can resume going up after that
so don't buy blindly
if the market stays positive then only go long
PNB CMP 35.5Stock strength is very high and has shown good consolidation from last 7-8 months. It will break the channel this time and can show good run from here.
Target 60+
Stop Loss: 33
PNB - Crossed 20 and 50 DMA.PNB crossed 20 and 50 DMA with good volumes. CMP 29.55 and shall go to 31, 34.
Short term Buy PNBTargets 27/27.5
Disclaimer : Please trade with your own and comfortable views. I just share my view.
