NBP surges past key resistance, eyes further gains

The National Bank of Pakistan (NBP) continues its bullish momentum, trading at PKR 79.2 as it breaks above the critical resistance level of PKR 78.44, now acting as immediate support.

Technical analysis indicates that the stock remains within a well-defined rising channel, suggesting sustained upward momentum. With increasing trading volume and a strong Relative Strength Index (RSI), the next potential target stands at PKR 85+ provided the current trend persists.

However, a pullback to PKR 78.44 remains possible before further upside movement. Investors may consider accumulating near support levels while maintaining a stop-loss below PKR 78 to manage risk effectively.

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NBP’s technical outlook remains strong, reinforcing positive sentiment in the broader market.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →