This Small Banking Stock Gave 100% Returns in a Few Weeks! Check it Out

  • Market Overview

Here’s another small banking stock that has defied the odds and market sentiment. So far, stock prices have gained by more than 100% in a few weeks

Punjab and Sind Bank (NS: PUNA ), was trading at around 15.00 per share in the month of October 2022.

Fast forward to a few weeks, the stock prices have rallied sharply and now it’s around 30.00 per share at the time of writing this content.

Take a look at the Price Action Outlook on the Higher time frame chart, you’ll understand what’s going on in stock prices…

Punjab and Sind Bank – Price Action Trading Analysis on 1W Chart
Punjab and Sind Bank Price Action – Hidden Breakout and Strong Momentum!

We can see a strong breakout from the Downward Range. Right after the breakout from the parallel resistance zone, which is around 16.00, prices shot up with strong upside momentum.

Precisely, stock prices rallied from 15.00 per share to 30.00 per share within a span of 7 – 8 weeks. That’s more than a 100% return in less than 2 months.

Prior to the Breakout, we could notice some signs of big players and insiders accumulating stock in the Re-Accumulation phase.

After the Breakout, we can witness a strong increase in the trading volume which indicates good order flow and buying pressure on the stock.

So will stock prices continue to go up? Or should we expect a reversal from here? What do you think about this stock? Leave it in the comments!

The Breakout in this stock was followed by Wyckoff’s Accumulation Phase. To learn more about this Wyckoff trading strategy, check out the video given below

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  • krishna kumar @krishna kumar
    👌
    Like 0
  • Jagdish Doifode @Jagdish Doifode
    okk
    Like 0
  • Rakesh Prasad @Rakesh Prasad
    How good if you could have told us before one week.
    Like 2
    • Kumaran Ram @Kumaran Ram
      exactly thats should have been a good analysis
      Like 1
    • ikhlak islam @ikhlak islam
      @Rakesh Prasad market2money
      Like 0
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  • Anshuman Sinha @Anshuman Sinha
    Sir.. any knowledge sharing on any other stock which can do even 50% from here.. in the next 2 months ? How to identify that ?!
    Like 4
    • ikhlak islam @ikhlak islam
      @Anshuman Sinha No one Can tell you about the Timing how many weeks and months will be taking but i am telling you which stocks i will tell you it will become multi beggar
      Like 0
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