PNB share price tips 2014
PNB stock short term technical view
Punjab National Bank stock on last trading session closed at 985 with loss. On daily chart, PNB stock price trend is super bullish but technically heavily overbought so expect correction ahead. On daily chart, 720 rupee is major average level and above it keep buy on dips view for stock. On upside 1030 and 1100 rupees are strong resistances. On downside, 940 and 900 rupees are support zones for now. Daily chart indicators patterns are mixed, but heavily overbought so expect correction. A clear top is formed at 1030 and that will remain as strong supply zone.
Risky traders here can go short with stop loss above 1030 and expect downside targets in next 1-month period. Deeper correction will set PNB stock target at 700 rupee.
PNB stock medium term technical view
Punjab National Bank stock in this week is showing gains. This will be third gaining week and in these 3 week stock rallied from 770 to 1000 rupee level. On weekly chart, 650 rupee is major average level and above it keeps medium term view bullish and strategy as buy on dips. On upside 1135 and 1260 are target levels for next 6 to 12 month period. On downside, 880 and 750 rupee are support zones. As technically overbought on weekly chart, expect correction ahead, which can be used for adding long positions.
PNB stock long term technical view
Punjab National Bank stock in last 6 month had given 92% return to investors and major performer in banknifty. On monthly chart, 540 was breakout level, 755 and 980 was targets for 12 to 24 months, and stock achieved both targets in only 6 months period. On upside next target zones are 1190 and 1400 rupees for next 12 to 24 months period. 540 rupee is major average level and above it investors use major corrections for accumulation. As looks overbought on monthly chart as well, so expect long-term correction ahead.
PNB company description
Punjab National Bank (PNB/ the Bank) is an India-based bank. The Bank offers personal banking; social banking; micro, small and medium enterprises (MSME) banking; agricultural banking; corporate banking; international/non-resident of India (NRI), and other financial services. The Bank is distributing and marketing mutual fund products of Principal PNB AMC and UTI AMC. Under the gold coin scheme, the Bank is selling gold coins of two gram, five gram, eight gram, 10 gram and 20 gram denominations through branches. Depository services as depository participant of National Securities Depository Limited (NSDL) is being provided through 659 authorized branches covering 259 centers across India. Online trading facility is also being provided through Bank’s Alliance Partners. Doorstep banking is being provided to about 754 customers. It provides credit cards, in two types, gold and classic.