AkshayAdak

Nifty PSU bank

Long
NSE:CNXPSUBANK   NIFTY PSU BANK
In bigger timeframe it is in downtrend for years.
Now showing good up move in daily timeframe and has multiple
reasons to continue bullish momentum.
But not sure till where it will last.
Resistance zone is near too.
Let's see.

This post is for information purpose only.
Comment: After 19th Sep. it have moved +19%. It's hugh move for an index in such a short span of time.
After the breakout on 19th Sep. it went down and many would have thought that's a false breakout. But may be that move was to remove people with poor risk management.
It didn't gone below the support trendline and again bounced back more strongly.
Smart one should have exit below if it breaks trendline and the nearest swing.