CautiousChartist

NIFTY PSU BANK INDEX - Very Bullish

Long
NSE:CNXPSUBANK   NIFTY PSU BANK
The index is forming an Inverted Head and Shoulder Pattern.

Just broke out of the Downward Channel resistance this week.

In about 2-3 years the index should reach its target of 4340 but before that happens its intermediate targets will be met.

Between 2660 and 3360 there could be some consolidation going forward.

Immediate short term - MACD crossover should give this space some momentum.

My Fav picks from the index include
SBI , BOB, PNB, Indian Bank , Central Bank & Canara Bank .

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