Adopt the Wait & Watch approach for PNB: Mitesh Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com in an interview with ET Now talks about PNB.

Is there a trade in PNB?

Yesterday PNB was a recommendation from my side in the closing show and it nearly met the targets. We have given a target of 1035, it made a high of 1031 before some kind of bad news came in. As of now nothing much, it needs to trade above 1000 again in case we want to be slightly positive over there or probably below today's low of 965 for some kind of a breakdown being signalled over here.

I would just wait it out. It has had a good run and then kind of corrected on both on the news side. We had numbers, which kind of prompted the strong rally and then a bad news, which kind of pulled the stock down.