Nifty PSU | A simple analysis We can see that there's a good breakout in PSU Sector. Just a little hurdle in the weekly time-frame, marked the line from where the script has been facing rejection, Closing above that line and the zone may give good upside momentum in the whole sector.
BOB (BANKBARODA) has hit new 52 week high and hardly 15% away from it's all time high zones of approx 228. The scrip has taken it's own sweet time and the way it is moving, it reflects a poised action. Expecting this to breakpast its ALL TIME HIGHS and head for 350++ levels. cmp 199
Attached: Daily Chart as of 16th June 2023 Holding above 182, a Target of ~ 200 is pending🎯📈 Rationale behind this Setup: - Observe Multiple Volatility Contractions as Price is forming a VCP - Strength on any Dip as it gets bought - Higher Highs and Higher Lows are intact - Price trading near 52 week high zone - PSU Banks are doing better than Private Banks so...
Powergrid is looking good for an upmove , breakout of monthly inside bar candle, stock had formed a rounding bottom structure and has broken out of its major resistance zones of 232 levels , as long as its above this levels , there is a high chances of good upside in the stock , my SL will be 225 or a monthly candle closing below my resistance . Targets of 265/295
BANK OF BARODA has formed a rounding bottom pattern and looks good for a long above 188-190 levels (weekly candle breakout retest needed) with around 5-6% of stop loss ,for targets of 207 and towards all time highs of 228 levels , a breakout above all time highs will take the stock higher very quickly where sky is open
Is the psu banking stocks ready for a major rally in the coming days ? PSU INDEX has broken out of its long term bearish trend line and has also retested its trendline supports , showing there is a possible change in the trend , overall it is buy on every dip in this sector with stocks like SBIN < CANARA BANK < BANK OF BARODA and many others towards targets of all...
CNX PSU BANK index spot cmp 3945 Chart pattern study Daily time frame. Ascending inclined head and shoulder pattern formation. Currently formation of right shoulder is ongoing , any rise on higher side would face selling pressure till the high point of right shoulder is not taken out on daily closing basis. On lower side nearest support can be taken as the...
CNX PSU BANK index spot CMP 3930 Elliot wave study Time frame :- Daily Index is trading in corrective phase of elliot wave. Formation of wave B is completed and current sell off in index have started to unfold wave C of corrective phase. Any rise in index should be used to exit any long position, till the recent high is not taken out on closing basis. On lower...
Canara Bank - Bearish Gartley Sell PRZ - 326 - 330.8 SL - 342 ( Day Closing Basis ) Target - 305/299
As updated previously that psu banking stocks will boom and happened, check previous published idea.
The stock has been trading in an 18-week consolidation base. Yesterday, it broke out of a downward-sloping trendline connecting the highs of January and March 2023 on above average volume. RS line is trending higher. It entered the bullish zone, with a positive crossover on MACD.
SBIN Took support from multiyear support trendline and is ready to touch 650+ levels. SL of 40 points for RR 1:3
A very interesting Chart. Triangle Breakout and throwback along with gap fill support. If sustains then target is of 50 points on 5/10 points SL.
PSU banks will outperform better that PVT banks in coming weeks and chart also says that it has retested it's supportive zone very well...so focus on PSU stocks for better returns.
Bank of baroda had breakout zone ..weekly time frame target is really Big Best in PSU Stocks
This is one of the best PSU bank right now. Amount recovered from bad debt are its profit.
Weak below 4175 for 3450-3300 . View will be tuned bullish if price gives close abv 20 SMA and slope of SMA turned to the upside. Expected time frame by March end. Disc : It's not an investment advise to buy or sell. Pls do your research
Indicating reversals from all time trend line. Good to go long with PSUBEES