PUNJAB NATIONAL BANKPembelian
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Analysis:
a) Wave 2 and 4 are at 0.5 retracement level and wave 5 couldn't significantly cross wave 3 ending due to high bearishness succumbing to double top formation. A new wave 1 is expected to start after breakout.
b) A wedge formation at a historical support line. However the structure is below 20EMA line. Wait for more confluence.
c) Price Action indicates accumulation at dips. Might result in a positive breakout.
a) Wave 2 and 4 are at 0.5 retracement level and wave 5 couldn't significantly cross wave 3 ending due to high bearishness succumbing to double top formation. A new wave 1 is expected to start after breakout.
b) A wedge formation at a historical support line. However the structure is below 20EMA line. Wait for more confluence.
c) Price Action indicates accumulation at dips. Might result in a positive breakout.
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