PNB trade ideas
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
$PNB - IH&S formation taking placeIH&S not yet complete but chart looks very similar to Bank of Baroda which confirmed IH&S recently and currently testing it's neckline. PNB would most likely complete IH&S structure and followed by breakout. Breakout target is given on chart.
T1 - 70.5 INR
T2 - 83 INR
PNB LONGOnly for education purpose not to be taken as a trading call.
CHART BY HARMONIC LEARNING AND EARNING
#PNBPUNJAB NATIONAL BANK
Sector: Financials
Industry: Banks
Employees: 70810
Punjab National Bank (PNB or the Bank) is a public sector bank. The Bank provides various banking services, such as digital banking, personal banking, social banking, micro, small and medium enterprises (MSME) banking, agricultural banking, corporate banking, international banking or non-resident Indian (NRI), and financial services. The Bank operates through four segments: Treasury, Corporate/Wholesale banking, Retail banking and Other banking operations. The Banks digital banking services include PNB Retail Internet Banking, PNB Corporate Internet Banking, PNB Mobile Banking and PNB SMS Banking. Its personal banking services include savings fund account, fixed deposit schemes and cards. Its social banking services include financial inclusion and priority sector. Its corporate banking services include loan against future lease rentals and cash management services. Its financial services include insurance business, merchant banking, mutual funds and wealth management services.
PNB Short Temporary Short opportunity for PNB for Intra Day Trade Profits.
Note: Only for learning purposes.
PNB rectangle breakoutPNB after consolidating in 94.5-60 range has given a rectangular breakout pattern. This stock can move to levels of 110-120-130 in the coming days.
SL 87
