Punjab National Bank (PNB)

Fundamental View: Punjab National Bank is one of India’s largest public sector banks with a strong nationwide presence. Over the last few quarters, the bank has shown steady improvement in its fundamentals. Asset quality has improved with a decline in NPAs, recovery and write-off trends remain healthy, and capital adequacy has strengthened. Profitability has stabilised due to better credit growth, controlled costs, and improved operating efficiency. With the ongoing economic recovery and rising loan demand, PSU banks like PNB are well positioned to benefit. Technical View: On the technical front, PNB has broken above a key horizontal resistance zone of ₹127.5–₹128.5 on the daily chart. This zone earlier acted as a strong supply area, but the breakout has come with healthy volumes, indicating strong buying interest. The stock has also closed above the upper Bollinger Band for two consecutive sessions, which signals strong momentum and the early phase of a trending move. The ADX indicator is rising, confirming strengthening bullish trend strength. Additionally, PNB is outperforming the broader market, as PSU bank stocks continue to show relative strength. Strategy: Accumulation is recommended in the ₹132–₹133 zone. Stop-loss: ₹127 Short-term target: ₹145