PUNJAB NATIONAK BANK
SECTOR: -- Banking (PSU).
FINANCIAL DATA
F.Y-2022-23 JUNE-2023 Qtr SEPT-2023 Qtr DEC-2023 Qtr
Revenue: - 85144.11cr 25145.45cr 26354.92cr 27287.81cr
Net Profit: -
2507.20cr 1255.41cr 1756.13cr 2222.81cr
E.P.S:- 2.28
1.14 1.59
2.02
N.P.M:-
2.94% 4.99% 6.66%
Equity: - 2202.20 cr,Face Value:-2,Book Value:-85.76,
Price/Book:-1.22,Dividend Yield:-0.62,Share Holding
Pattern:- Promoters—73.15% &
Public---26.85%, Market Cap:-115065cr,TTM (E.P.S):-5.36(+149.33% yoy), TTM (PE):-19.50
Sector (PE):--13.27.
Data Source: - www.bseindia.com & www.moneycontol.com.
All-Time High:--279.98 made on 9.11.2010.
All-Time Low: -- 7 made on 26.4.2002.
Recent Low:-28.05 made on 20.6.2022.
Open-102.75--High-106--Low-100.65—Close-104.50 on 25.1.2024.
Support:99.90/97.80/96.25/95.75/94.30/93.35/92.40/86.20/84.75/75.60.
Resistance:106.75/112/116.45/118.80/123.20/128.20/131.85/136.40/144/150.40/153.15/169/174.80/180.55/183.10/197/199.95/207/213.60/218.20/220.15/229.25/231.45/240.40/247/257.80/265.50/279.98.
(Bold and underlined figures are most important)
The overall technical setup and indicators are looking good as of now for the continuation of the up move but it may take some time to get into strong up momentum. Please note that it is in the long term uptrend now. Its critical range now is between 97.70---95.75---86.15 and if it has the strength it should not break 97.70 in the down move on the closing basis, therefore as long as it holds this range the up move is likely to continue, but break below 97.70 & 95.75 will be an alert point and sustained break below 86.15 on the closing basis may end the possibility of an up move and may drag it down further, which please note. Similarly moving up its tough resistance points could be at 106.75----118---130 once it crosses these points and sustain then it is likely to have a smooth upside move and then the broad and important target or resistance points could be at 153.15---183.10---220.15---229.25 please note that it could correct at any of these points and may resume the up move again or may pause or exhaust the up move for a while, but if it moves above 229.25 and sustain on the closing basis then it could retest its all-time high price of 279.98 or may go beyond it also.
In view of the above observation, for investors long trade can be tried on decline near or within the range of 97.70---95.75 but not below it with a short stop loss of 92.80, but the authentic stop loss would be 84.50 on the closing basis and can add further position if it moves above 106.75 and sustain on the closing basis with a stop loss of 102. Technically the stock has the potential of appreciating by 40—60% or more in 10- 15 months time provided it holds its critical range as mentioned above, it should be reviewed again once the said appreciation target in the stock is achieved.
NOTE: - It is a technical assessment of the stock as of now, the
technical interpretation changes with the price movement and time, therefore it
has to be reviewed at regular intervals, furthermore investors are advised to look into
fundamental, financial details of the company because that too keeps on
changing and last but not the least management perception for the future of the
company before taking investment decision. It is important to mention here that
eventually good fundamentals & financials will hold and push the price up
of the stock.
Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.
Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.
Note: Price stated here are of spot market.
Contact me for strategic guidance to enter and
exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
