PNB housing is trading around 779. on the chart it look like it will complete a cup pattern.
It is a good risk and reward ratio. one can invest for at least 2 quarter. If you are a trader then put stop loss (closing basis) below the trend line as shown in chart.
First target 863 after that it can achieve 1087 /1188/1422.
This is not a stock recommendation.
This script is showing VCP pattern which is discussed by Mark Minervini . This is also forming inverse head and shoulders bullish pattern. The volumes in up moves are high showing script is going in strong hands. I have marked the targets in the chart. Risk reward is favourable to enter near 480 levels.
NSE:PNBHOUSING is breaking out from the congestion with good volumes. It's a daily chart hence we need to wit till end of day to see if this breakout sustains. If it does and more volume is seen contributing to upside then it could be a good trading opportunity.
Based on the box height, target would be around 870.
• Ineffective chart analysis
• Blue line serving as the stock's trend line; 700 serving as both a technical and emotive support level
• High High and Higher Low formation
• At the 500 level gap up, the trend line is met, so if you want to take on more risk, you can consider the trend line's support.
This stock forming my techno funda pattern in which technicals and fundamentals both are included
Technical (moving average,trend, strength,)
Fundamentals (sales,EPS, PROFIT)more than 20 %
One of the best long term setups being formed
Long term trendline generally breaks out with good and rapid moves. Weekly candle almost closing above this trendline with all the weekly and Monthly candles/indicators being positive.
PNB Housing
Possible C&H Pattern on Weekly Basis
5.5% Upside Needed to Cross C&H Price Trendline
Once Crossed & Sustained, Then Good to Go!!!
Vol. BuiltUp in Process.
Trail SL with Upside.
Book Profit as per Risk Appetite.
Do Your Own Research. This is just an Opinion.
Happy Investing:)
> this is a low risk swing setup
> during the correction the key level of 487 not broken, so we can still be bullish
> till now this can be considered as a regular market correction --> higher volumes while going up, lower volumes while coming down
> SL of 486 has to be enforced strictly for swing traders.
Note: InvestIn10 would ride this till Momentum exists....
PNB Hosuing view
Expecting Double Top breakout
Please follow strict risk reward and stop loss..
Charts for Educational purposes only.
Thanks,
V Trade Point
PNB Housing view for today 17th feb
Double Top pattern breakout expecation
Charts for Educational purposes only.
Follow strict risk reward if you follow the level
Thanks,
V Trade Point
PNB Housing Finance (Weekly):
-PNB Housing Finance is currently trading near falling trendline
-There is a buildup/ tight consolidation near trendline
-RSI is also consolidating in Daily Time Frame
-Trade after Breakout of this congestion
Can go long above closing of 600 levels on daily TF
Disclaimer:
This analysis is just for educational purpose.
PNBHOUSING has posted good volumes for the past few days and looks set to reward investors. Price is above all important EMA and as long as RSI remains above the 60 mark one can buy above 524 for a target of 576 with a stop loss of just below 497.
The views presented are of the author and are for educational purpose only . Kindly consult your financial advisor...
