PNB HF. Cmp 770. Stock price corrected from resistance at 720 and in line with overall market went down to retest key support zones. It went below 30 WEMA briefly and retraced 61.8 % of its previous upmove (marked on charts) and then last week gave a big bullish close. An ascending triangle is marked on the weekly charts.
Overall structure is that resembling a rounding structure with top near 1700 levels. Fundamentally company has now regained its growth focus under new CEO Girish Khousgi and asset quality has shown sequential improvement. For those who want to do detailed research, company provides presentations and does regular concalls.
disc: invested recently.
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