PNB Share Price Target 3rd Dec 2015

PNB Share Price Target 3rd Dec 2015

PNB Share Price Target / Forecast for Dec series are 158-163. PNB Minor Trend Is up / bullish. PNB Major Trend is also up / bullish. From past three trading days PNB share price has been undergoing consolidation and longer term picture looks good. The price chart / share price has given a very good breakout on good volumes after good consolidation between 142.80-123. In this sluggish market looking at such chart structures feels refreshing.

PNB Share price has immediate support at 139 Nse spot prices mentioned and if some other criteria are completed we could look at taking a fresh trading long position around 139-138 Nse cash prices mentioned. We feel PNB will be outperforming the broader Indian Stock Market and hence we feel Buying should be done in PNB at appropriate points with proper risk management strategy.

Overall the structure looks good. We feel PNB share price will be outperforming Bank Nifty also. PNB chart is in the same category as that of IDBI where the stock after a breakout is consolidating and post its consolidation will resume its bullish / upward trajectory.

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