PNB stock finds strong support at ₹113.50, a critical level that could trigger a quick move towards ₹121–₹130 if sustained; a break below may delay momentum briefly.
What Makes ₹113.50 a Critical Support Level for PNB?
Technical Overview of PNB
Punjab National Bank (PNB) is currently trading near a crucial technical level of ₹113.50, identified as a strong “momentum base” or what seasoned traders call a big support zone. The stock’s price action around this level could decide its short-term trend direction. Holding this support on a closing basis could invite renewed buying interest and momentum expansion.
Why ₹113.50 Matters for Traders
The ₹113.50 mark has acted as a multi-session support level, tested multiple times on both daily and hourly charts. Its significance is reinforced by strong institutional volumes and retracement patterns aligning near this point. If PNB sustains above this zone, it opens a pathway for a swift upside move towards the ₹121–₹130 range in the coming days.
Immediate Price Path and Scenarios
📈 Scenario 1: A firm close above ₹113.50 may spark renewed momentum, attracting short-term traders and delivery-based investors targeting ₹121–₹130.
📉 Scenario 2: A breakdown below ₹113.50 may delay this bullish move temporarily, with sideways consolidation expected before a renewed attempt toward the higher band.
Chart Observations and Momentum View
The stock’s 20-day and 40-day moving averages remain positively aligned, supporting a bullish bias. RSI levels are holding near neutral, suggesting that any dip toward support could trigger accumulation. A sustained move above ₹115 on volume confirmation would further validate the strength of the ₹113.50 base.
Trading Implications and Strategy
For positional traders, risk management remains key — maintaining stop-losses slightly below ₹113.50. Momentum traders may look for confirmation candles before entering long positions. Short-term resistance lies at ₹121, followed by ₹130, which coincides with the Fibonacci extension level on the daily chart.
For traders following banking sector momentum, our Zero To Hero Nifty Tip and Zero To Hero Bank Nifty Tip provide real-time strategies aligned with index-linked stock movements like PNB.
Short-Term Outlook and Volatility Zones
PNB’s next directional cue will depend on whether it sustains above its ₹113.50 pivot for consecutive sessions. A decisive close above ₹118 could confirm a breakout, while failure to hold support may lead to a time correction phase before resuming the upward trajectory.
In medium-term charts, price action remains within a well-defined ascending channel, suggesting that dips toward ₹113–₹112 may attract renewed institutional buying.
Traders aiming to capture near-term moves in banking stocks can further track setups through our Future & Option Tip framework for derivative insights on sector-linked counters.
Investor Takeaway
Indian-Share-Tips.com Technical Analyst Gulshan Khera, CFP®, who is also a SEBI Registered Investment Adviser, observes that ₹113.50 serves as a pivotal momentum base for PNB. Sustaining above this support could trigger a multi-day rally, while a temporary dip below may only postpone, not negate, the stock’s larger uptrend trajectory within the banking pack.
Related Queries
Why Is ₹113.50 Considered a Pivotal Support for PNB?
How Could a Break Above ₹115 Influence PNB’s Momentum?
What Are the Short-Term Resistance Levels for PNB Traders?
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
PNB Technical Analysis, PNB Support Resistance, ₹113.50 Support, Bank Stock Momentum, PNB Target Levels, Zero To Hero Nifty Tip, Zero To Hero Bank Nifty Tip, Future & Option Tip, Indian-Share-Tips.com, SEBI Registered Investment Adviser
