September 08, 2015
PNB (NSE Cash)
BUY
` 123
` 129- 128
` 140
5-10 sessions
126
124
133
141.50
Bullish
WEEKLY CHART
Source: Falcon (Chart time - 9:25 IST)
The stock has corrected sharply in last three weeks and has reached to its strong support of
`124 - `125 levels in the weekly chart.
On Friday, the stock has taken support around the mentioned zone and has made a ‘Long
Legged Candle’ in the daily chart.
The ‘RSI’ oscillator is giving a series of positive divergence in the weekly chart, indicating
reversal on cards.
Looking at the current ongoing price action and the placement of momentum oscillators,
we are expecting sharp pull back in the counter.
Thus, we advise traders to buy this stock from current level to a decline up to ` 128 for a
target of ` 140 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be
kept at ` 123.
September 08, 2015
PNB (NSE Cash)
Last 6 recommendations
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