Punjab National Bank - Stock Investment Idea Weekly Pick
PNB has recovered strongly from the ₹85–₹90 base and is forming higher bottoms on daily and weekly charts, signaling renewed buying interest. The stock is on the verge of a consolidation and anchored VWAP breakout, with MACD bullish and RSI nearing a breakout above 60. Accumulate ₹110–₹118 for ₹130–₹145. Stop loss: ₹99.
Expert recommendation by Mr. Ketan Kaushik - Derivative Analyst (NISM - 202200162803)
- Current Price: ₹114
- Buying Price: ₹110-118
- Target Price: ₹130-140
- Stop loss: ₹99
- Upside: 23%
- Time Frame: 6-8 Weeks
Stock Technical Analysis
- Stock made 52-Week high at 142 in Apr24; after making highs, stock had witnessed sharp correction and taken support in 85-90 zone
- Since then, stock has been making higher bottom formation on daily as well as weekly chart which indicates buying interest
- Stock is on verge of consolidation breakout along with anchored VWAP resistance breakout
- Momentum indicator MACD has given bullish crossover above 0 level and RSI is likely to breakout above 60 level on the weekly chart which indicates upside momentum is likely to continue in the coming days
Traders can look to accumulate PNB in the 110-118 zone and expect upside targets of 130-145 in 8-10 weeks with stop loss below 99 (closing basis).
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Know more about Punjab National Bank (PNB) – State-Banking Giant with Improving Asset Quality & Growth Momentum
Website: pnb.bank.in
Type: Public Sector Bank (Government-owned)
Founded: 1894
HQ: New Delhi
Business Profile & Key Metrics
- PNB is one of India’s largest public sector banks (PSBs), offering a full suite of banking products: retail banking, corporate banking, investment banking, mortgages, credit cards, wealth management, etc.
- It has a large network: as of FY25 (~March 2025), ~10,189 branches and ~11,822 ATMs.
- Business footprint: “Global Business” (deposits + advances) in FY25 reached ~ ₹26,83,260 crore, up from ~₹23,53,038 crore in the prior year — a growth of ~14%. Deposits also grew ~14.4%.
- CASA (Current + Savings Accounts) deposits are significant (~₹5,73,543 crore in FY25) and growing, which helps with low-cost funding.
Disclaimer - Investments in securities market are subject to market risk, read all the related document carefully before investing.
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