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Price and trend forecast of PNB for Tomorrow, Weekly, Monthly

Punjab National Bank

Symbol: NSE:PNB

ISIN: INE160A01022

128.25

As on 2024-04-19

47.80 (52W Low) 138.30 (52W High)

PNB's Today's Performance

Punjab National Bank started the day by opening at 128.00 today 2024-04-19. Its shares reached a high of 129.35 and dipped to a low of 125.25 in intraday. When the markets closed, PNB’s stock price settled at ₹128.25 per share. Also check out its key support and resistance levels.

PNB Buy/Sell Targets

Tomorrow, sell PNB when its price reaches ₹ 128.25 with a stop-loss order at ₹ 130.25. You can set the target price as ₹ 126.25 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of PNB for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for PNB

Downside Targets Value in ₹
Tomorrow Down Target 1 130
Tomorrow Down Target 2 132
Tomorrow Down Target 3 134

Important Levels for PNB

Holding Levels Value in ₹
Tomorrow Up Target 1 126
Tomorrow Up Target 2 124
Tomorrow Up Target 3 122
Based on where the stock opens tomorrow, if PNB opens on a positive note, our first target will be ₹130. If Target 1 is achieved, we will aim for Target 2 which is ₹132.

But if PNB falls below the average value of ₹127.62, you can enter a sell side position with target number 1 - ₹126 and second target - ₹124 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of PNB

Looking at PNB, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, PNB has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for PNB is moderate bearish.

Tomorrow's Volume based share price Forecast for PNB

PNB's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -7%.

Reversal detection for PNB

Predicted trend chart of PNB tomorrow for price forecast
PNB may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹130 in morning tomorrow
Target 1 tomorrow129
Target 2 tomorrow130
Target 3 tomorrow132
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with PNB's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if PNB opens on a positive note, our first target will be ₹129.98. If Target 1 is achieved, we will aim for Target 2 which is ₹131.72.

But if PNB falls below the average value of ₹127.62, you can enter a sell side position with target number 1 - ₹125.88 and second target - ₹123.52

PNB's Weekly Targets
1st Up Target 133.98
2nd Up Target 139.72
1st Down Target 123.88
2nd Down Target 119.52

As the week for PNB ended on bearish sentiments, we can expect further continuation of this sentiment. PNB's initial target will be 133.98 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 123.88 in the upcoming week.

Weekly OHLC Values
Open 132.20
High 135.35
Low 125.25
Close 128.25

Week for PNB started with an open price of 132.20, and the close was at 128.25. PNB reached the highest of 135.35 and dipped lowest up to 125.25 last week. This indicates a bearish sentiment for the week.

PNB full month swing targets
Monthly Up Target 1 144.08
Monthly Up Target 2 149.82
Monthly Down Target 1 113.78
Monthly Down Target 2 99.32

Targets of ₹144.08 can be expected to be reached in the coming month. Once PNB achieved this target, we can aim for the next upside target of ₹149.82.

PNB if fails to hold upside, down targets of ₹113.78 and ₹99.32 can be achieved by end of this month.

For complete three weeks if PNB is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as PNB

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

PNB is expected to reach the target of 129.98 in tomorrow's trading session.

After achieving the initial target in PNB, we will aim for higher targets of 131.72 tomorrow.

However, if PNB starts to trade below ₹127.62, then we will shift our focus to the sell side and aim for down targets of 125.88 and 123.52.