PNB | Sell Below 118.80

In the weekly chart an engulfing pattern

has formed which is bearish reversal

pattern when formed after a rally. In the

daily chart it slipped to a support line;

breakdown below which may create

more selling pressure.

Price has slipped below 13 EMA; on the

lower end it may now fall down towards

55 EMA.

Daily RSI is in coming out from

overbought zone and MACD has entered

a bearish crossover.