I believe we are at the end of a 9.5 years bear market for Punjab National Bank, which represents the Wave2 and Wave3 bull rally can take the price above 1000 easily (not sure on timeline, possibly years)
Factors in favor of correction ending (or almost)
- Hit the 0.618 Fib support line, a typical wave2 turn-around point
- Y is 1.618x of W
- Internal sub-waves of WXY have A:C = 1:1
- Weekly RSI is the lowest ever (oversold)
- Price corrected by 90%
Note that a further drop in Nifty can drag the price down IMO
Here is a macro view of monthly chart
Factors in favor of correction ending (or almost)
- Hit the 0.618 Fib support line, a typical wave2 turn-around point
- Y is 1.618x of W
- Internal sub-waves of WXY have A:C = 1:1
- Weekly RSI is the lowest ever (oversold)
- Price corrected by 90%
Note that a further drop in Nifty can drag the price down IMO
Here is a macro view of monthly chart
