PUNJAB NATIONAL BANK: SELL
STOP LOSS: Rs 85
TARGET; Rs 76
The stock broke its support of 80 levels which is working
well from last eight weeks and gave the lowest daily close of last forty
three trading sessions. In the April series it failed to cross and hold
above 92 zones and started witnessing selling pressure. It has a
tendency of witnessing selling pressure at every minor attempt to bounce
back. Thus we are recommending selling the stock on bounce back move
with the strict stop loss of 85 for the downside target of76 levels.
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