Punjab National Bank (PNB) clearly shows a Cup and Handle breakout formatio

🧭 Chart Structure Timeframe: Weekly Pattern: Cup & Handle Neckline: ₹118.50–₹119 Current Price: ₹121.13 Volume: Rising — strong confirmation of breakout 📊 Technical Analysis The stock has completed the cup pattern after a 10-month base formation. Breakout candle is visible above the neckline zone, with above-average volume, suggesting strong institutional participation. Handle retracement was shallow, showing bullish strength and limited supply. 🎯 Targets (Pattern Implication) Measured move = Depth of Cup = ~₹32–33 Breakout Level: ₹119 Target Zone: ₹150–152 (≈ +27–28%) Stop-Loss: ₹113 (below handle low / breakout candle) 🔍 Supporting Factors Trading above 200 EMA → long-term uptrend intact Volume confirmation → strong breakout conviction Cup & Handle on weekly = high reliability pattern Banking sector strength adds tailwind ⚠️ Alternate View If the stock closes back below ₹118 on weekly basis, the breakout may fail → short-term consolidation back to ₹108–110 possible. ✅ Verdict: Bullish breakout confirmed above ₹119 neckline. Targets ₹150+ look achievable if volume sustains and market sentiment remains positive.