Lately, the PSU bank stocks have been struggling to go up and have shed some of their gains in from the previous months, and have been consolidating.
Oriental bank has been struggling to break the overhead resistance at 91-92 ad has formed a triple test. An ideal place to take long positions would be around 92-92.5 after a convincing break of the overhead resistance. We can see no clear trend, so we could break in either direction. For positional traders, taking position down the support areas or after a clear break of overhead resistance would be ideal.
Oriental bank has been struggling to break the overhead resistance at 91-92 ad has formed a triple test. An ideal place to take long positions would be around 92-92.5 after a convincing break of the overhead resistance. We can see no clear trend, so we could break in either direction. For positional traders, taking position down the support areas or after a clear break of overhead resistance would be ideal.
Trade closed: stop reached