High Growth Banks: Punjab National Bank PNB is Cheap at Current Levels, Advice Buy PNB Stock

Punjab National Bank Ltd. is one of the fastest growing banks in India. The company was listed on National stock exchange (NSE) on 24 April 2002. Stock charts suggests us that there was strong bull run on the PNB stock, we are still bullish on this company for long term view and even in the short term. Taking a look at the technical levels, stock is trading firmly above the 100 EMA suggest us its still bullish for long term, also we have seen that 50 EMA is below the price action from this we can easily conclude that there is short term bullishness as well in PNB stock. Technical indicators suggests us that bulls are active on this stock and traders should take only long positions. So traders can enter long on this stock near 1100 levels for the short term targets as 1220 and then second target as 1280. Long term targets for PNB stock is at 1390 level.

Fundamental outlook for the stock is very strong and positive, we have seen the results have been very impressive for the company and we feel that its growth will continue. Loans are the major part performance of PNB. Our strong recommendation will to be long on the PNB stock.