PNB - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.2

Here’s a detailed technical analysis of Punjab National Bank (PNB)

📊 Trend Overview

Current Trend: PNB is in a strong uptrend, trading well above both its 50-DMA (₹106) and 200-DMA (₹104), indicating sustained bullish momentum.

52-Week Positioning: At 87.2% of its 52-week range (₹85.5 – ₹116), the stock is near its yearly high, reflecting strong price action and investor interest.

📈 Momentum Indicators

RSI (69.0): Approaching overbought territory. Indicates strong momentum but also signals caution for short-term traders.

MACD (1.10): Positive crossover confirms bullish momentum. Histogram is rising, supporting continuation.

Volume: Current volume (1.64 Cr.) is above the 1-week average (1.56 Cr.), showing healthy participation and confirming strength behind the move.

📉 Chart Patterns & Moving Averages

Price Action: The stock has formed a breakout pattern above ₹110, with higher highs and higher lows. Trendline support is intact.

Support Levels

₹106 – 50-DMA and recent swing low

₹104 – 200-DMA and psychological support

Resistance Levels

₹116 – 52-week high and immediate resistance

₹120–₹125 – projected extension zone if breakout sustains

📌 Bollinger Bands

Price is near the upper band, confirming strong momentum. A short-term pullback toward the middle band (~₹108) is possible before continuation.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Entry 106–110 Near support and breakout retest zone

Exit (Short) 115–116 Resistance zone, potential profit booking

Exit (Long) 120–125 If breakout sustains above ₹116

🔍 Market Behavior

Trending: Yes, strong bullish trend confirmed by MACD, RSI, and price action.

Consolidating: No, price is expanding with momentum.

Reversing: Not currently. Indicators suggest continuation unless RSI peaks further and volume fades.

🧠 Summary

PNB is technically robust, riding a strong uptrend with price action above key moving averages and bullish indicators. RSI and MACD confirm momentum, and volume trends are supportive. Traders may consider accumulating near ₹106–₹110 and watch for breakout above ₹116 for targets toward ₹125.

Let me know if you’d like to explore other PSU banking stocks or high-dividend financial plays.

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