Buy PNB with target of Rs 147, says Religare Securities

A man walks past the building of Punjab National Bank.
Punjab National Bank

Recommendation: BUY

Last Close: Rs 152.25
Initiation range: Rs 150-154
Target: Rs 147
Stop loss: Rs 165 

The PSU banking pack is doing pretty well at present and in fact outpaced some of the private banking players recently. PNB also belongs to the same lot and looks upbeat to witness fresh breakout from a broader consolation range in near term.

Traders should accumulate the stock in the range of Rs 150-154 with a closing stop loss of Rs 147 for the target of Rs 165.


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