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PNB tried to re-bounce at 50 % crucial retracement level but made lower lows and highs. Now 50% retracement level acting as resistance.
FM can put a lollipo but the sweetness is gone
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
PNB bullish bat harmonics pattern
Historical bearish gartley pattern for pnb
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
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...
A bearish bat completed on the PNB 30 min TF. waiting for a short entry signal now !!
Looks likes a butterly is setting up on the Punjab National Bank Daily chart.... what say ?
Here is a nice long setup on Punjab National Bank.
Trade levels shown on chart - feel free to refer it.
Setup posses a potential Risk/Reward = 2.9 ( almost 3X)
Trade with Care
PUNJAB ABHI DHOOR HAI
HUge resistance over 154... short after the event if didn't break 154 taking stop of 154
Long for target of 138-140..with sl of 121
PNB is poised for a good correction. Go short...Details in the chart...