🏦 Punjab National Bank – Cup & Handle Breakout in Play CMP: ₹122 | Change: +1.6% | Sector: PSU Banks

Technical View:

has completed a cup-and-handle breakout, showing strong accumulation. Price action holds above ₹120 support with rising volume (~17M). RSI near 64 indicates strength without overbought pressure. Immediate resistance is ₹125–₹128; support around ₹118. Fundamental View: The bank’s Q2FY26 net profit surged 31% YoY, driven by lower credit costs and robust NIMs (~3.3%). Advances rose 12% YoY with healthy growth in retail and MSME segments. Asset quality continues improving — GNPA fell to 5.5%, NNPA to 0.9%. PNB’s strong capital base and improving CASA ratio underpin its revival story. Analyst Rating: Most brokerages maintain BUY/ACCUMULATE, citing improving profitability and balance sheet strength. Target: ₹135 (≈10% upside) | Stop-loss: ₹117.