Sell PUNJAB NATIONAL BANK
|Sell Range||40.5 – 38|
|Target||34.8 – 33.5|
|Duration||8 – 10 Trading Days|
|Potential Returns^||12 – 15%|
|CP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Returns^|
|38.45||SELL||40.5 – 38||34.8 – 33.5||42||8 – 10 Trading Days||12 – 15%|
# CP – closing price on Mar 11, 2020
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 37.
^ Potential returns are calculated based on the median of sell range.
COMPANY OVERVIEW - Punjab National Bank
Punjab National Bank (PNB) provides banking and financial services in India. It offers personal banking products including fixed deposits, house, vehicle and educational loans, corporate banking products etc. Besides, it also provides insurance services such as life, fire, motor, health, travel, house, personal accident, theft/burglary etc. In Q3FY20, Punjab National Bank reported a net loss of Rs 492.28 crore, against Rs 246.51 crore profit in the year-ago period.
|Sectoral Index||Nifty Bank|
Punjab National Bank TECHNICAL ANALYSIS (MONTHLY)
- PNB Stock Price had done Major Breakout below the true crucial Monthly Resistance, at 58 and 44 consecutively.
- 1st Major Support Breakout: The first major breakout happened during Mid February 2020, and the share price had fallen below the Channel support as well as Multiyear support shown in the attached chart.
- 2nd Major Support Breakout: This first significant breakout increases selling momentum and PNB share price had fallen below extreme Multiyear Support in the past week.
Punjab National Bank TECHNICAL ANALYSIS (DAILY)
- Lower Tops and Lower Bottoms at Daily Charts.
- Punjab National Bank share price closed below all important moving average parameters, which consider bearish setup and will help to propel further downside movement.
- Further, increasing volume along with price fall confirms the bearishness.
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⭐️ Ultra Equity Advice #121: █████— Gᴏᴏᴅʟᴜᴄᴋ Cᴀᴘɪᴛᴀʟ (@CapitalGoodluck) March 12, 2020
Consecutive major #support #breakout in recent days.
Our #momentum #Trading advice for this #stock: GO SHORT.
● Original post: https://t.co/WEE4SFX5Os#GoodluckCapitalUltra offers top #SwingTrading recommendation.#technicalanalysis