psu bank has given major breakout above 2669
can invest though by buying psubank bees
buy till 2181
target are 3447 : 4247
time frame : i am expecting 6 months
its also good for long term sip as major psu like canra bank sbi bank has given breakout and this index is made up of psu...
Nifty PSU Bank Index gave a trendline breakout on the log chart today. It is possibly heading towards 2650.
A closing above 2650 would activate inverted head and shoulder targets of 3345 and 4245 respectively (Where weekly resistance zones exist).
//PSU Bank Index//
Why does it look like a time correction going forward?
1. Despite taking support at 38.2% retracement of the current swing, it's over 3 weeks, the index did not revert and resumed northwards.
2. 38.2% retracement is considered as a fast retracement in a climax move like this one. If the move has true energy, prices do not stay at...