Punjab National Bank (PNB) is showing a bullish reversal setup as it trades above its 50-day (₹116.15) and 200-day (₹105.05) moving averages, signaling medium to long-term strength. RSI is near 60, indicating positive momentum, while MACD supports a buy signal. The stock hit a new 52-week high of ₹124.85 recently, demonstrating strong investor interest. Immediate support lies near ₹120 with resistance around ₹125–₹126. Traders could consider accumulation near ₹110–₹118 for upside targets of ₹130–₹145 in 8–10 weeks with stop loss below ₹99. Overall, PNB exhibits a recovery phase amid strong technical and fundamental indicators.
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