PNB
India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Showing posts with label Punjab National Bank. Show all posts
Showing posts with label Punjab National Bank. Show all posts
Thursday, January 27, 2011
Monday, January 24, 2011
Sunday, January 23, 2011
Saturday, January 22, 2011
Wednesday, July 28, 2010
Saturday, May 08, 2010
Saturday, August 01, 2009
Thursday, May 21, 2009
Monday, October 27, 2008
PNB - SELL
We recommend a sell in Punjab National Bank from a short-term trading perspective. It is evident from the charts of Punjab National Bank that it was on a broad sideways consolidation in the range between Rs 440 and Rs 530 between late July and late October. The stock failed to surpass the upper boundary (Rs 530) of the sideways consolidation during mid-October and started to decline.
Subsequently, the stock penetrated the 21- and 50-day moving averages by tumbling over 6 per cent on October 22. Moreover on October 24, the stock conclusively broke out of the sideways consolidation by slipping 11 per cent, along with the broad market sell-off.
The daily relative strength index (RSI) has entered in to the bearish zone and the weekly RSI is on the verge of entering this zone. Furthermore, the moving average convergence and divergence has entered the negative territory, indicating a sell. Our short-term forecast for the stock is negative. We expect the stock’s decline to prolong until it hits our price target of Rs 375 in the upcoming trading sessions. Traders with short-term perspective can sell the stock while maintaining a stop-loss at Rs 440.
Saturday, August 23, 2008
Subscribe to:
Posts (Atom)