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
Operación activa:
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.
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.