Bajrangi-Bhaijaan

Why the rally in PSU Banking space worries me.....

NSE:CNXPSUBANK   Nifty PSU Bank Index
Like everyone, even I enjoy seeing stocks & indices rallying & them being in the green & at record highs than in the red because at the end of the day, it's investment where a majority of people in the stock market focus on & not trading. There obviously would be a few people who would be an exception to this. But these are different & difficult times. The rally in PSU Banking space has been worrying me for the past few days in general & today in particular because unless & until some specific points on the downside are hit, this rally at least in a few select PSU Banking stocks would fizzle out. If this correction were to happen due to reasons like poor quarterly results or on any specific move from the RBI (which looks unlikely in the current scenario), I wouldn't mind it because at the end of the day it's part & parcel of the stock market. But if it were to happen due to the ongoing pandemic, it will be too tough to take. India has already been through a lot emotionally in the last 2 months & any more bad news on that front (maybe in terms of the third wave as many experts are predicting) would be unimaginable. So for the first & hopefully the last time, I pray sincerely that the fall in this space happens sooner than later due to market related reasons & hopefully India doesn't have to see the dreaded third wave. Stay safe friends!
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