PNB Stock Price: On the last trading day of the week, the Indian stock market saw pressure on public sector banks (PSU Banks), and Punjab National Bank (PNB) was no exception. Selling pressure prevailed in PNB shares, pushing the stock below its crucial support level and closing at ₹118.60. The stock declined by approximately 1.95 percent compared to yesterday. Market analysts believe that profit-booking at higher levels and sluggish signals from the banking sector have made investors cautious.
PNB remains in the bears grip
PNB shares opened at ₹120.10 this morning and initially touched a high of ₹120.36, but this gain failed to sustain. As the day progressed, selling pressure increased, and the stock reached its lowest level of ₹118.30. It remained below the psychological level of ₹120 at market close with a trading volume of approximately 14.7 million shares.
While the bank’s fundamentals remain strong—especially given its recent Q3 FY26 results, which showed a 13 percent increase in net profit to ₹5,100 crore—technically, a bearish candle formed on the charts today. The bank’s market cap currently hovers around ₹1.36 lakh crore.
Will there be a recovery on Monday
Technical analysts are cautious about the upcoming trading session. According to technical indicators, PNB shares are currently going through a tough phase. The next strong support on the charts is seen around ₹117.60, and if the stock slips below this level on Monday, the decline could extend to ₹112.
Looking at the upside, the ₹121.50 to ₹123 range will act as a major resistance for the stock. Unless PNB closes strongly above the ₹124 level, any significant upside is unlikely. The RSI (Relative Strength Index) is currently nearing 25, indicating that the stock is in the oversold zone. A slight dead cat bounce or short-covering could be seen from lower levels on Monday, pushing the stock back into the ₹120-₹121 range.
What’s important for investors
PNB may still be an attractive option for long-term investors, as the bank has significantly improved its asset quality and its gross NPA has fallen to 3.19 percent. Brokerages like Motilal Oswal maintain their confidence in the stock, with long-term target prices ranging from ₹135 to ₹150. However, swing traders and short-term investors should monitor the trend in the first hour after Monday’s market opening and consider opening new positions with a stop-loss of ₹117.
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