SWING IDEA - PNB HOUSING FINANCE

12月7日

PNB Housing Finance, a prominent housing finance company in India, is exhibiting a promising swing trade setup supported by strong technical signals.

Reasons are listed below :

• Breakout and Retest of 800 Zone: The stock previously broke a strong resistance at 800 and is now retesting it, showing potential for upward momentum.
  
• Bullish Marubozu Candle: A strong bullish marubozu candle on the weekly timeframe indicates robust buying interest.
  
• Golden Fibonacci Zone: The stock is bouncing back from a key Fibonacci retracement level, suggesting a continuation of the uptrend.
  
• 50 EMA Support: Price action is well-supported by the 50 EMA on the weekly timeframe, affirming bullish sentiment.
  
• Volume Spike: A significant increase in trading volumes highlights growing investor confidence.
  

Target - 1190 // 1380
Stoploss - weekly close below 825

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