Watch out for the levels and keep good PSU bank stocks on watchlist for catching the move
Your opinions of the budget on Saturday will be appreciated. Last time around the FM made all banking stocks really volatile notably Public Sector Banks on budget day. However we are trading at very different price levels from the last budget in these Govt banks. Alot has happened, may I remind you the Merger of numerous PSU Banks of the country to give more stability. Have they really?
Every retail trader who would have invested in Trash PSU banks and the most infamous private bank YB for giving losses to it's investors has occured since then..
Do you think there will be a great save by Modi Govt to cheer the markets and the government's investments in it's public banks?
Or this is the place of actual downfall and a worse situation than when BJP even came in as majority party, for the health of it's banks. Negative growth?
The harsh reality is only a few good Private Sector banks of the country really do efficiently run a bank and also profit heavily Year after Year. Stock prices of ICICI,Axis,Kotak and every Big private player in the banking space along with their results prove what they have to.
This is just my opinion. Technically, The candles give a robust picture with a for a long position.
It's obviously an interesting juncture. Could even break down who knows! Trade smart and Patience always pays off.