NSE PNB is Preparing for a Corrective Breakout
Timeframe: Daily
NSE PNB is currently facing strong resistance at the 200 EMA on the daily timeframe. The price has completed a corrective W-X-Y formation on the daily chart, and the ATR has increased to 2.91.
The stock has reached the final wave V of C of (Y) at 103.62 and has started moving upward. If this marks the end of the correction, the price needs to break and sustain above wave iv at 112. Upon holding above this level, traders can aim for targets of 117 – 126 – 137+. Even if the price falls below wave (Y), traders can only buy after the breakout of 112.
Stay tuned for further updates!
NSE PNB is currently facing strong resistance at the 200 EMA on the daily timeframe. The price has completed a corrective W-X-Y formation on the daily chart, and the ATR has increased to 2.91.
The stock has reached the final wave V of C of (Y) at 103.62 and has started moving upward. If this marks the end of the correction, the price needs to break and sustain above wave iv at 112. Upon holding above this level, traders can aim for targets of 117 – 126 – 137+. Even if the price falls below wave (Y), traders can only buy after the breakout of 112.
Stay tuned for further updates!
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