PNB Bounces From 200-DMA: SEBI RA Kapil Aggarwal Sees Nearly 10% Upside

2025-06-20 06:10:44

(MENAFN- AsiaNet News)

Punjab National Bank (PNB) stock presents an interesting short-term trading opportunity with nearly 10% upside to the current market price, according to SEBI-registered analyst Kapil Aggarwal.

Traders could enter long positions at current levels of ₹102.7, with a target price of ₹112, the recent swing high, Aggarwal suggested. He placed a stop loss at ₹101.8.

On the daily charts, the stock came off its 200-day moving average, a level typically regarded as a key support zone.

The recent price correction appears to follow a common ac three-wave pattern, he noted, adding that this setup supports their broader long bias on the stock. In this case, the a=c scenario indicates that the correction could be over, and the stock could continue its upward move.

At the time of writing, PNB shares were trading 2.7% higher.

Data on Stocktwits shows the retail sentiment on Stocktwits remained 'bullish'.
PNB's Sentiment Meter and Message Volumes as of 02:05 pm IST on June 20, 2025 | Source: Stocktwits
The bank reported a 52% increase in net profit for Q4 FY25, accompanied by an increase in net interest income and a decrease in bad loans.

In other news, a special court in Mumbai ordered the Enforcement Directorate (ED) to release assets worth around ₹60 crore, including jewellery, cash, and a flat, linked to Nirav Modi, in favor of PNB.

This pertains to the 2018 Punjab National Bank scam in which jeweller Nirav Modi and his associates stole around ₹12,000 crores from the bank using fraudulent letters of undertaking.

For updates and corrections, email newsroom[at]stocktwits[dot]com<

MENAFN20062025007385015968ID1109699998

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.