Nifty PSU Index has a lower trendline intact from march 2020, recently it got broke and ofcourse acts as resistance. 50% retracement of swing low can also act as resistance. So buy strictly after breakout could be a better choice.
PSU index has taken support at the demand zone and moving. If it sustains above 2000 we will see upward movement in PSU BANKING STOCKS.
In addition to Nifty PSU Banks breaking down to new all-time lows on an absolute basis, we're also seeing new all-time lows relative to the Nifty 100. This trend of underperformance has accelerated and unlikely to continue this steep pace for the long-term, but there's no reason to be looking for a reversal just yet. We’re not here to catch falling knives or be...
Here’s the leader of the weakest stocks, Nifty PSU Banks, breaking down to new all-time lows on an absolute basis. When bullish momentum divergences fail to spark any sort of upside traction, that shows that sellers are remaining aggressive even at lower prices and that the downtrend remains firmly intact. If prices are below their recent lows of 1,220 then we’re...
IDBI surged in trade today with PSU Banks re-bouncing, IDBI seems to be a better option. 5.4% today on NSE with close to 3.5 times its average volumes which signifies returning interest in IDBI. Well above Ichimoku IDBI stands on my BUY list in CASH Market only above 74.4 with Stop Loss of 72.25 and Target 1 of 76.50, Target 2 of 78.70 and Target 3 of...