{"id":373721,"date":"2013-02-28T10:07:24","date_gmt":"2013-02-28T04:37:24","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=373721"},"modified":"2013-02-28T10:17:15","modified_gmt":"2013-02-28T04:47:15","slug":"analysis-pnb","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2013\/02\/28\/analysis-pnb\/","title":{"rendered":"Analysis: PNB"},"content":{"rendered":"

Today\u2019s pick is PNB [stockquote]PNB[\/stockquote]. The stock saw a double top at the beginning of the year and started its descent to Rs. 700 levels. It then was range bound between Rs. 700 \u2013 Rs. 850 from June to November. In December it saw a bullish breakout of the range, but scrip found strong resistance around Rs. 900 levels to pull it back to Rs. 850 levels. In the last three months, the stock moved -2%<\/strong><\/b> same as that of the Nifty\u2019s.<\/p>\n

\"PNB<\/a><\/p>\n

Oscillator RSI<\/a> and CMO<\/a> are in no man\u2019s land. The stock is trading in the lower end of a compact Bollinger band<\/a> giving out a bullish<\/b> signal. Short-term technical saw a 9×4 bearish<\/b> signal a couple of days ago.<\/p>\n

The MACD<\/a> line and signal line are moving parallel to each other without giving any directional bias. Also, Long-term and short-term GMMA<\/a> lines are currently inverted and are contracting giving a bearish<\/b> bias for the stock.<\/p>\n

\"PNB<\/a><\/p>\n

PNB\u2019s average correlation<\/a> with the Nifty<\/a> is 0.68<\/b> which is positive and strong<\/b>. The scrip will be replicating movement of Nifty. [stockquote]NIFTYBEES[\/stockquote]<\/p>\n

\"PNB<\/a><\/p>\n

PNB has a historical volatility<\/a> in the range of 0.3 to 0.6. The scrip\u2019s volatility is currently in the higher end of the range.<\/p>\n

Given these technicals, we suggest a short-term sell. <\/b>A long-term Watch <\/b>is suggested given the range bound movement. A call could be taken depending on the directional break-out of the range.<\/p>\n

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