Simple Trade Setup | PNB

PNB

I am posting this on request from a follower on Twitter.

Observations:

1) On 1 Day time frame, we can see that it has support at 44 level and resistance at 46 level.

And it closed just below the resistance level. If it gives sustainable breakout of 46 level and sustain above 46 then we can see further up move till 48 and 50 level.
But if it faces resistance from 46 level then we can see a downfall till 44 level.

My personal opinion is that better to trade with equity in this at this moment with positional trade.

Please refer below chart : 1day Time Frame.