Technically, 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....
NSE:PNB Strategy: Short Gain: 4% Never trade a short without a stoploss. *Not a financial advice to buy or sell. Only speculations. My charts speaks louder than words. I'm a chartist and I paint charts.
PNB canbuy with minimum stoploss.. very favourable target and sl..also risk reward is matching..it may touch its target of 50-60-70 maximum in next 6 month..go greeen keep hunting and keep learning stay connected and stay tunned... TBB - TRADE BULLS & BEARS LEARN ONCE EARN FOREVER
Hello guys, the last two trades SRTRANSFIN & SIEMENS given here have both hit their 3rd targets and it was sooner than I expected. Now the stock that can be seen breaking a long time range is PNB. So now PNB, as seen on a weekly timeframe is making a bearish flag and pole pattern and on a Daily timeframe has given a breakdown from channel which was it's long time...
NSE:PNB is struggling at the supply zone. One may go short if the trendline breaks.
Usually I don't trade head n shoulders unless there are other valid reasons to enter. If you are an aggressive trade, you might want to enter just after the breakout of Neckline which has happened on Friday market closing. If prices are at your expected entry level during Monday open you can go short in PNB Happy Trading !