#pnb forming double bottom at base support with a break above the trendline. Long trade can be considered if the double bottom is confirmed i.e break above 95 resistance level.
applied a modified Pitchfork on daily chart of PNB.. prices seems to be breaking out from the upper end of the Pitchfork with some reasonable good volumes. potential target ard 105-107.
Short for a target of 82, stop loss 96. Price behavior similar to what was observed in the 2015 fall.
Price Consolidation following a big move is an essential part of a stock chart. After the debacle price is consolidating in a narrow range. At present price is at the lower end of the range which is crucial for moving on either of the sides. One will not be surprised if there is a breakout on the downside.
Sell PNB @ CMP 96.10 Stoploss 98 Targets 94.80/94.50/93.11
It's a good fundamental trade, everyone being about the PSB Bank sector theme ! Giving good opportunity to enter it and hold for new highs in it.
PNB tried to re-bounce at 50 % crucial retracement level but made lower lows and highs. Now 50% retracement level acting as resistance.
SNR Decay trade PNB is trading at 144 PNB 135 PE @ 0.95 PNB 150 CE @ 2.0 Initial credit 2.95 Breakeven 132.05 and 152.95
Height of shoulder = 22 Height of head = 36 Traget 1 = 138-22 = 116 Target 2 = 138-36 = 102 SL: Exit when price moves above neckline - 138
Buy @ 150 Stoploss :- 145 Target 156-157 (short-term) Long term trend negative because of RSI.
a nice symmetrical ABCD pattern is forming on PNB daily chart which also lines up with .886 retracement of the bigger down swing.
a bearish crab pattern seems to be forming on PNB 1H TF. this pattern also aligns with a butterfly pattern forming on PNB daily chart. looks like a very promising setup...