November 27, 2015
PNB (NSE Cash)
143 - 142
14 - 21 sessions
Source: Falcon (Chart Time:
Looking at the broader degree charts, it can be clearly seen that the corrective phase got arrested around
‘Horizontal Trend line’ support, which coincides with the 61.8% Fibonacci retracement level of the large up
move. After consolidating around this support zone for few months, the stock has given a breakout from the
'Multiple Resistance Zone' of
142, which a first sign of strength. In addition, both the daily and the weekly
momentum oscillators are positively poised. Thus, looking at these technical evidences,
we advise traders to
buy this stock at current levels and on declines to
142 for a target of
154 in coming 14 to 21 trading
sessions. The stop loss for this trade set up can be kept at
November 27, 2015
Last 8 recommendations
Recom. Buying/Selling Range
798 - 793
298 - 296
402 - 406
1192 - 1198
160.50 - 162
555 - 550
Booked at 567
338 - 335
738 - 744
Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website:
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock
Exchange Limited and MCX Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and Portfolio Manager with SEBI. It also
has registration with AMFI as a Mutual Fund Distributor. Angel has received in-principal approval from SEBI for registering as a Research Entity in terms
of SEBI (Research Analyst) Regulations, 2014. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for
accessing /dealing in securities Market. Angel or its associates including its relatives/analyst do not hold any financial interest/beneficial ownership of
more than 1% in the company covered by Analyst. Angel or its associates/analyst has not received any compensation / managed or co-managed public
offering of securities of the company covered by Analyst during the past twelve months. Angel/analyst has not served as an officer, director or employee
of company covered by Analyst and has not been engaged in market making activity of the company covered by Analyst.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in
this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem
necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits
and risks involved), and should consult their own advisors to determine the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as
opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be
true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel
Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person
from any inadvertent error in the information contained in this report. Angel Broking Pvt. Limited has not independently verified all the information
contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents
or data contained within this document. While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this
material, there may be regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or
passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection
with the use of this information.
Note: Please refer to the important ‘Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on
respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may have investment positions in the
stocks recommended in this report.
refer to the latest update on respective stocks for the disclosure status in respect of those stocks. Angel
Broking Pvt. Limited and its affiliates may have investment positions in the stocks recommended in this report.