For last few weeks we have been looking at indices. By the study of a particular index we then try to determine about investing in components of that index or the stocks that from that particular index. In the series we will today have a look at PSU Bank Index. PSU Banks and the index of PSU bank consisting of banks like Bank of Maharashtra, Canara Bank, CBI,...
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wait for these 2 level Try to make position through PSUBANKBEES
PSU MULTIYEAR Breakout will test the Pivot Range of 7500 provided the support level of 4000 respected as lower Low in the Uptrend Continues on weekly🙏 My Expectations after testing 7500 it may stuck into 4000 to 7500 range..Will time test the patience
Hope this analysis will assist you in your investments in PSU bank stocks. Major stock that contributes this index are :- SBIN - 29.05% BANKBARODA - 17.12% PNB - 13.1% CANBK -12.02% UNIONBANK-9.18% INDIANB- 6.73 BANKINDIA -6.58% If sustain above 7245 then 7378 to 7440 above this bullish then 7630 to 7701 then 7887 to 7967 if sustain Below 7059...
Nifty PSU Bank index recently broke its all-time high. It also retested the 5431 (5375) level on a daily time frame. It has been making a rounding bottom pattern, a solid pattern among all the bullish patterns. The relative strength index is above 60 on weekly and monthly time frames. It has been on an uptrend for the last couple of years. There is no resistance...
RSI on Daily chart near 60 once cross it will give good rally. book profit RSI @ 90
PSU BANK taking support @ trendline drawan. Keep watch PSU Bank stock like SBIN, BANKBARDOA, CANARA BANK, UNION BANK etc. Which can give good return
Major Resistance level 5435 Supoort level 4640 keep track PSU bank
PSU Banks look set for 10% correction. When it hits the right zones look for buys in good scripts.
The CNXPSUB (NIFTY PSU Bank) index looks bullish as it is above 60 on a monthly, weekly & daily RSI. It has almost reached the target of the previous cup pattern on a daily time frame and just broke the neckline of the new cup. If you noticed, it also broke the neckline (5375 levels) of nearly 13 years of the cup monthly.
Barring a few weeks or months of turbulence, this could be a very bullish chart. In the short term, we can see 10-15% correction but overall things look really good for PSU Banks. Important levels have been mentioned in chart. If 5336 gets broken, we could be in for massive rally from this level. Immediate target is 5335.35-5299.30 Level.
script has started making LL-LH structure with a further potential of slipping 4-5%
It is consolidating in very small range and hence expected to breakout and give good upside look for stocks which are showing strength here.
It is breaking out from the range in ratio chart. One may find some good setup from PSU Banks for coming weeks
nifty psu bank may soon start firing. iob,bom,psb,pnb may go double in 6 to month period
NIFTYPSUBANK-INDEX 👉🏻Trendline Breakout In PSU Bank Index 👉🏻Keep PSU banks on radar 👉🏻Index support 3650 👉🏻PSUBNKBEES 43.2 can be added.
PSU bank nifty had a high momentum 3rd wave that terminated around 4600 Since then it has corrected 20%+ in what is likely a 4th wave Accumulate the names in anticipation of a 5th wave that should lead to highs towards 5000 on the index Invalidation point for the wave count is red line