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.
PNB trade ideas
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.
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.
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 ! ! ! !
PBB - ready to sell ???Hello All,
The recommendations are purely for educational purpose only, consult you financial advisor before trading.
Targets are mentioned in charts (either red lines or balck lines), keep Stop Loss as per your risk..
If you like my Idea, Don't forget to Boost and comment on my Analysis..
Have a profitable year ahead
Gautam Khanna
Technical Analyst by Passion :-)
PNB - A Star Performer of PSU Banking Sector.NSE:PNB
PNB - CMP 130
PNB has recently given a Pole & Flag continuation pattern breakout with volume on a daily timeframe also a Weekly strong closing along with sectorial strength.
Now, PNB is sustaining it's breakout. If PNB continues to trade above 125 level then expecting it to go to 140-152-165 levels respectively which is almost 25% upside from CMP.
Note : Not a recommendation, It's just a personal view. DYOR & Trade.
PNB a Simple Analysis - BullishIn the past, the price of NSE:PNB was in a downtrend.
After a significant fall, NSE:PNB was able to create an accumulation, and a breakout of it is also visible on this chart.
So, it is understood that it has changed its Trend for now and it should go up beyond 125.
If 125 is achieved, then thereafter this stock will make an All-Time High.