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CNXPSUBANK

CNXPSUBANKAs previously shared my bullish view on PSUBanks in August last year, they did a dream rally from there on and now after a correction from hitting the supply zones they are back in good demand zone. The index is currently making falling wedge on weekly tf, with a large picture showing a cup & handle where handle is potentially the falling wedge formation, Also a good weekly bullish engulfing candle on previous resistance, which has now turned into a good support. So, PSUBanks ETF along with some good PSU Bank stocks may be interesting to watch out in coming weeks
NSE:CNXPSUBANKLong
by aktradelearning
BANKBARODA As indicated in my other post related to PSUBanks ( idea, which looks to be bullish. BoB in PSU Banks is looking a good setup and here is my overall analysis for this On Monthly timeframe, price has given a falling channel breakout and also given multi year breakout of 2018 high and has retested as well it On weekly time frame, stock has given a rounding bottom breakout and is now forming a falling wedge kind of pattern at 38 to 50% fibo support zone of the run from June low to Dec high. Breakout of this can lead another bull run in this script and rounding bottom target is coinciding with 100% Fibonacci extension of up move from April 2021 to Dec'22 There is also another view that the stock might be forming a cup & handle pattern on weekly timeframe with below chart formation (cup high = 2017 high) On daily timeframe, stock is currently in symmetrical triangle, with price testing the upper resistance trendline fourth time and is consolidating near it. Any breakout this time can give a momentum on upside Also, on daily tf keep the below setup in radar as well Overall the setup is looking quite bullish here :) Happy trading
NSE:BANKBARODALong
by aktradelearning
Bullish breakout in NSE PSUBANK Index on weekly chartNSE's PSUBANK index (ticker: CNXPSUBANK) was trading in a long head and shoulders consolidation for two years from mid 2019 to mid 2021. The breakout from inverted H&S happened in Oct'21 after which the index began to consolidate in a bull flag type of formation till Aug'22. The index broke out from this consolidation in Aug, gave a retracement back to the consolidation zone and has now finally broken out of this zone. We are bullish on the NSE PSUBANK index in the coming months with immediate target of 3400 followed by 4000-4200 as a major resistance zone as shown in the chart. Stop loss below Sep'22 low of 2856.
NSE:CNXPSUBANKLong
by vipulmehta817
#cnxpsubank cup & handle formationcnxpsubank index @2240 clearly making cup& handle pattern. Is the risk reward favorable to preempt the formation before breakout? Those who are seeking opportunity should give it a try. With entry point 2240 and stop loss at 1900 the reward seems to be 3600 which is 1:3. Seems to be best bet for next 3 months or so. Weekly positive DMI moving up again and Negative DMI facing down (suggesting bears are not interested) and with ADX at 30(very strong), this is a not to be missed opportunity Monthly Charts also confirming the pattern although ADX still sloping down suggesting the Index may move up with little time & bit of volatility. What`s your take?
NSE:CNXPSUBANKLong
by mayank79