PNB trade ideas
Punjab National Bank - DAILY CHART VIEW!!#PNB
Punjab National Bank consolidating in an Ascending triangle pattern in the daily chart and likely to see breakout in the stock above swing high of 39.5. technical parameters and volume setup looks positive as of now. Keep a watch.
Bearish Shark - PNB - 5 Hour TF.Hello,
Pattern : Bearish Shark
Stock : NSE:PNB
Time Frame : 5 Hour TF.
Note : This chart is only for study and reference purpose.
Educational Purpose: PNBConsidering PSU banking sector breakout.
Please do check 10 years profits (if there are any) to PSU banks before investing in them. Decide capital allocation accordingly. :)
Punjab National Bank
PNB - Supply Zone - Short Setup ?NSE:PNB is struggling at the supply zone.
One may go short if the trendline breaks.
Punjab National Bank ??? ..... NPA reduced ..... heading ??Observations : Ralied from 31 levels to 35 levels in anticipation of results...
Technically 37 will act as a strong resistance...
Breakout above 37 new trading range..
Sustaining below 33.60 rally fizzles out......
Time Frame : 10-15 tradig sessions...
PNB Head & Shoulders - Bearish?PNB formed head and shoulders pattern of 15 Timeframe. Target defiend on chart.
PNB - Long Trade#PNBBANK - If the Price sustains above the Highlighted zone, go for long positional trade.
$PNB - End of 9.5 yrs correction, next target 1000I believe we are at the end of a 9.5 years bear market for Punjab National Bank, which represents the Wave2 and Wave3 bull rally can take the price above 1000 easily (not sure on timeline, possibly years)
Factors in favor of correction ending (or almost)
- Hit the 0.618 Fib support line, a typical wave2 turn-around point
- Y is 1.618x of W
- Internal sub-waves of WXY have A:C = 1:1
- Weekly RSI is the lowest ever (oversold)
- Price corrected by 90%
Note that a further drop in Nifty can drag the price down IMO
Here is a macro view of monthly chart
BULLISHLONG ON PNB FOR MONTHS TO COME EXPECTING A GOOD MOVE TO UPSIDE!! SEEMS LIKES BEARS ARE LOOSING TERRITORY!!!
PNB - LAST DOWNMOVE AT LEAST TEMPORARILYPNB - NO BUY ABOVE 50. BUY @ 50 WITH A SL OF 46 AND A TARGET OF 64. RR FOR THIS TRADE IS 1:4.
TRADE SHOULD NOT BE TAKEN ABOVE 50
ALL PSU BANKS SEEM TO BE NEARING THE END OF DOWNMOVE AT LEAST TEMPORARILY
PNB | Wedge patternPunjab national bank maintaining the wedge pattern, expected to rise till resistance is met. Good time to go long on the stock.
Positional 8R Trade for a 150% upside in approx months- Weekly chart
- Support zone where it has always bounced to reach a Bull High
- Break of Down Trend Line
- Divergence on RSI
- Wonderful RR
