Get started
PUNJAB NATIONAL BANKPUNJAB NATIONAL BANKPUNJAB NATIONAL BANK

PUNJAB NATIONAL BANK

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Options Bonds

PNB trade ideas

Punjab National BankThe stock analysis was carried out on Feb 9 in response to a question asked on a social media platform and thereafter it has rallied. Read the reasons behind the pick below. PNB shares appear to be the better option amongst PSU Banks. Reasons supporting the pick: 1. Second largest PSU Bank in terms of market capitalisation. 2. PNB’s merger with United Bank of India and Oriental Bank of Commerce has improved the PAT (profit after tax) for three straight quarters of FY21 i.e 538 cr. in Q1, 576 cr. in Q2 and 747 cr. in Q3. NII has been improved by over 80% on a YoY basis for Q3. 3. FII’s holding has increased from ~1% to ~4% which signals a strong bullish bias towards the bank. Huge volumes of shares are being traded for close to 7 trading sessions 4. Government of India’s emphasis on Privatisation of PSU’s will leave a lesser count of PSU Banks in India and PNB is expected to remain on the PSU Bankside. 5. Stock is trading/consolidating in a lifetime low trajectory of 26–39 for close to a year now. The all-time high of the stock is 279.8 which is far away from the current levels. Therefore keeping the range of 26–39 as a strong base, the stock has only one way to move i.e up. 6. Technically speaking, the stock is trading at 0.64 times its book value and appears to be undervalued given the above-mentioned reasons. The stock has a strong resistance zone at 40.55–42.80 and a strong support zone at 32.50-34.50 levels and hence perfect time to invest would be when the price is close to the support level or breaks the resistance zone i.e above 42.80. The first target for the stock would be 53+ and the second target would be 70+ in months to come. Refer to the chart for levels. Invest and forget, it might give some surprising returns. NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
NSE:PNBLong
by mishraparimal09
PNB Channel Breakout and next targetsPNB has finally broken a strong resistance of a channel in which it has been stuck since the Corona impacted equity markets. With the breakout happening with high volumes and a s series of higher lows, we can see that it shall possibly sustain and reach up to the level of 59 in near future. Next target after 59 we can see is 68. For those who are not already holding it may take an entry at retest of the channel resistance, which is now a support region.
NSE:PNBLong
by rjoshicool
PNB - Punjab National BankResearch pick: Reasons supporting the pick: 1. Second largest PSU Bank in terms of market capitalisation. 2. PNB’s merger with United Bank of India and Oriental Bank of Commerce has improved the PAT (profit after tax) for three straight quarters of FY21 i.e ₹ 538 crores in Q1, ₹ 576 crores in Q2 and ₹ 747 crores in Q3. NII has been improved over 80% on a YoY basis for Q3. 3. FII’s holding has increased from ~1% to ~4% which signals a strong bullish bias towards the bank. Huge volumes of shares are being traded for close to 7 trading sessions 4. Government of India’s emphasis on Privatisation of PSU’s will leave a lesser count of PSU Banks in India and PNB is expected to remain on the PSU Bankside. 5. Stock is trading/consolidating in a lifetime low trajectory of 26–39 for close to a year now. The all-time high of the stock is 279.8 which is far away from the current levels. Therefore keeping the range of 26–39 as a strong base, the stock has only one way to move i.e up. 6. Technically speaking, the stock is trading at 0.64 times its book value and appears to be undervalued given the above-mentioned reasons. Talking about targets (Daily time frame): The stock has a strong resistance zone at 40 .55–42.80 and a strong support zone at 32.50-34.50 levels and hence perfect time to invest would be when the price is close to the support level or breaks the resistance zone i.e above 42.80. The first target for the stock would be 53+ and the second target would be 70+ in months to come. NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
NSE:PNBLong
by mishraparimal09
PNB - Ascending Triangle Pattern - Short term SwingThis analysis is purely based on price action and Chart Patterns. The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days. Trade logic with SL and Target is explained in image itself. Don't chase the price. Always plan your trade & trade your plan Keep trailing SL accordingly once entered into the trade. This analysis is purely for education purpose. Kindly do your own study before entering into any trade . Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies. Feel Free to comment for any queries regarding the above stock or price action analysis in general.
NSE:PNBLong
by AdityaKarn90
PNB - CMP 37.0PNB - 37.0, PNB has gone through rounding bottom pattern. Depth of the cup is 7.35 points. The target is depth of the cup plus price of the cup top = 33.95+7.35 = 41.3. It exactly went up to 41.25 and reversed from there. Then comes how much retracement shall happen. If you take Fibonacci retracement levels the last retracement level is 61.8% of total rise. Here total rise is 14.6. So 61.8% of total rise is 9.02. Hence it shall fall to 32.2. However it made closing low of 31.5 and started raising upwards. Presently it is at 37 and trading in a upward closed triangle. Today it exactly closed at end of the upper line of edge and may break tomorrow. If it breaks the triangular range it can immediately go to 41.2 and above. MACD signal line crossed trend line and is making bullish divergence, RSI also above support line and is bullish. This is for educational purpose and any investment shall be done after prior consultation of financial expert.
NSE:PNBLong
by avlnrao63
PNB CMP 32.4PNB CMP 32.4 - PNB consolidated well between 26.5 to 28.5. Subsequently it broke out from these levels to reach a high of 42.65 on 9.12.20 subsequently it corrected and consolidated around 61.8% Fibonacci retracement level. It started its upward move since yesterday. Upward move is confirmed in hourly charts. RSI also started its upward reversal and MACD signal red bar started reducing. All these are positive indications for its upward move. Also it is in F&O ban for quite some time by creation of shorts. Since last few days short covering is happening and may come out of ban before December expiry. Similar things happened in last week of last month expiry and last week of expiry it made continuous four green candles and made a rise of around 10%. Expected similar events may happen now. Longs can be initiated with a SL of 30 for a targets of 33.95, 36.35, 37.7, 41.2. This is for educational purpose only and any investment shall be done in consultation with financial expert.
NSE:PNBLong
by avlnrao63
3