Kunal_TA

VCP & bullish pattern in PNB housing

Long
Kunal_TA Updated   
NSE:PNBHOUSING   PNB HOUSING
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.
Trade active:
PNB housing is showing a major breakout from the downtrending slope line drawn from all time high levels. This is a major development in the trend and considering real estate will be doing well in India and the quarter results of the company are also better than previous Qs and topline and bottomline is also at all time high , but stock is still down more than 50% from all time high is something which is interesting to hold. Enjoy :)
Trade active:
Hi,

We see that the script has opened gap up with volumes on daily, weekly and monthly chart. Whenever the stock breaks previous month's high on the first day of new month indicates fresh momentum. If the gap is not closed on weekly basis , then in short time we might see good upside in short period in coming days.

If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :)
Trade active:
After the gap up and resting for few days in range of 520-545 & respecting the gap the stock has began its upmove and going for 1st target of around 600 levels.
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading and have a nice profitable week ahead ;)

If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :)
Trade active:
Hi All,

Greetings of the day!
Based on our analysis the levels of 850+ with good volume will show a good breakout where the next levels that can be achieved are 1000+ with stop loss of today's low that is below 800 on daily closing basis. Even in slightly weak market its showing strength and the script is in strong FII DII and promoter hands with less with public. As housing market is doing good in India this housing finance company has high chances of coming up with decent numbers and should continue with upmove.
Keep holding or even fresh entry can be considered looking at today's big candle and upmove. For new entry, I would recommend to enter once today's high is broken :)
Happy trading and have a nice profitable week ahead ;)

****If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :). ****