PNB HOUSING Trend Analysis
Its chart is forming a potential Cup with Handle pattern.
Currently price broke out out of a falling wedge pattern, retested and bounced up.
RSI is showing strong bullish divergence and this level is also at Key Support.
Better to accumulate at current price levels.
Short term swing target is around 780-820 level (90% ROI)
Medium term swing target is around 1350 level (230% ROI)
Long term positional target is around its ATH 1630-1700 level (300% ROI) [Reward to Risk is 20:1]
Positional target is based on the technical target of Cup with Handle pattern and is near its ATH to add more confluence.
One of the fundamental aspects is when interest rates are higher, banks make more money.
These days NPAs have been reduced drastically by most banks and NBFCs.
Personally I don't use Stop Loss, if you want you can keep around 350.
As always, Do Your Own Research before trading or investing.
Peace!!
Currently price broke out out of a falling wedge pattern, retested and bounced up.
RSI is showing strong bullish divergence and this level is also at Key Support.
Better to accumulate at current price levels.
Short term swing target is around 780-820 level (90% ROI)
Medium term swing target is around 1350 level (230% ROI)
Long term positional target is around its ATH 1630-1700 level (300% ROI) [Reward to Risk is 20:1]
Positional target is based on the technical target of Cup with Handle pattern and is near its ATH to add more confluence.
One of the fundamental aspects is when interest rates are higher, banks make more money.
These days NPAs have been reduced drastically by most banks and NBFCs.
Personally I don't use Stop Loss, if you want you can keep around 350.
As always, Do Your Own Research before trading or investing.
Peace!!
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