Lucifer759

Party over for PSU Banks?

NSE:CNXPSUBANK   NIFTY PSU BANK
PSU Banks have been in a consistent downtrend since the rally they had after 2008 Financial crisis.
This charts looks at last 10 years for PSU bank index and they seem to be following the trend line .
index needs to have strong consecutive weekly close above 3350 for a major uptrend to start until then its a sell on rally.
We should wait for Index to close below 3314 in short term for new short positions.

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