PNB likely in process of forming a base

26 thg 5, 2021

PNB Punjab National Bank likely in process of forming a base

This week of 24th to 28th May 2021 has started off with a 3% GapUp
High probability of hitting 42.5 - 44 range target.

Small possibility of testing 36.4 before resuming upwards

27 thg 5, 2021

Giao dịch đang hoạt động

Wow, today thursday 27th May at closing, this dark horse has really galloped +7% and already hit the target of 42.5.

Well, to be precise its missed the target by a full 0.10paise :-)

It will be interesting to see it move from here on.
Post tomorrow's weekly closing, shall evaluate furthur targets and action.

Caveat:
Considering todays volume, PNB usually has had a tendency to reverse sharply in such scenarios. This does not mean it will always do the same.

Question is tomorrow will it continue its ride and hit 46.25 (+9% from CMP)
OR take resistance and begin a reversal deom 42.50 zone.