The charts for PNB are showing a massive development that investors shouldn't ignore. We might be witnessing a historical breakout in the making!
Why the excitement?
✅ A Multi-Year Milestone: PNB is currently sitting at a long-term trendline that has been in place since 2010. After nearly 15 years of consolidation, a breakout here could be a "game-changing" move.
✅ Strong Momentum: The stock recently showed a solid 3% momentum, closing at ₹128.68. More importantly, it has finally closed above the crucial ₹125 resistance level. If it sustains above ₹125 for the next 1–2 days, we could see a significant upward move.
Potential Targets & Strategy:
🎯 Short-term Target: Once it stabilizes above ₹125, the first targets are expected to be between ₹135 and ₹150. 🎯 Long-term Vision: If it crosses the ₹150 mark, the stock could head back toward its "glory days" of ₹170 to ₹200.
Risk Management:
• For New Buyers: You can consider entry at current levels with a small stop loss around ₹120.
• For Existing Holders: Hold strong! Your stop loss should be placed near ₹115. As long as PNB stays above ₹115, the trend looks positive.
🤔 What’s your take? Do you think PNB will reclaim its ₹200+ glory, or will it enter another consolidation phase?
👇 Share your view in the comments! Bullish or Cautious?
Why the excitement?
✅ A Multi-Year Milestone: PNB is currently sitting at a long-term trendline that has been in place since 2010. After nearly 15 years of consolidation, a breakout here could be a "game-changing" move.
✅ Strong Momentum: The stock recently showed a solid 3% momentum, closing at ₹128.68. More importantly, it has finally closed above the crucial ₹125 resistance level. If it sustains above ₹125 for the next 1–2 days, we could see a significant upward move.
Potential Targets & Strategy:
🎯 Short-term Target: Once it stabilizes above ₹125, the first targets are expected to be between ₹135 and ₹150. 🎯 Long-term Vision: If it crosses the ₹150 mark, the stock could head back toward its "glory days" of ₹170 to ₹200.
Risk Management:
• For New Buyers: You can consider entry at current levels with a small stop loss around ₹120.
• For Existing Holders: Hold strong! Your stop loss should be placed near ₹115. As long as PNB stays above ₹115, the trend looks positive.
🤔 What’s your take? Do you think PNB will reclaim its ₹200+ glory, or will it enter another consolidation phase?
👇 Share your view in the comments! Bullish or Cautious?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.