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CNX PSU BANK index chart studyCNX 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 support of neckline. Further trend can be decided on price action around neckline levels. Keep watch.
NSE:CNXPSUBANK
by RUDRA007
CNX PSU BANK INDEX chart studyCNX 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 side index might still retrace around 400-600-900 points on lower side. According to this, psu bank might face selling pressure in coming time. at the moment most of the banks are trading around the high levels, it time for bulls to be cautious, till index does not cross above the recent peak. More studies of chart pattern and harmonic will be added to this index in next study. Keep watch,
NSE:CNXPSUBANK
by RUDRA007
PSU BANKS BUY CALLBank Of Baroda 188.60 197.20 184.85 +0.35 +0.19% 99.21M 09/12 Bank of India 95.25 102.85 90.70 -4.95 -4.94% 64.22M 09/12 Bank of maharashtra 28.600 31.400 27.200 -1.450 -4.83% 82.08M 09/12 CBI 33.15 34.50 30.40 +1.60 +5.07% 227.30M 09/12 Canara Bank 317.55 330.50 313.15 -6.85 -2.11% 19.01M 09/12 Indian Bank 271.50 301.00 270.25 -23.45 -7.95% 4.05M 09/12 Indian Overseas Bank 25.80 27.65 24.90 +0.20 +0.78% 121.37M 09/12 Jammu and Kashmir Bank 55.95 62.00 54.25 -5.70 -9.25% 38.40M 09/12 Punjab & Sind Bank 33.800 34.800 30.500 +2.150 +6.79% 49.93M 09/12 Punjab National Bank 56.25 59.40 55.00 -1.45 -2.51% 242.88M 09/12 SBI 616.50 618.00 609.10 +4.85 +0.79% 11.19M 09/12 UCO Bank buy with previous high or ath break. need to patience for reward risk free for new traders,bignner easy to learn and earn think hard almost double in just 2 months.
BSE:PSUBNKBEESLong
by sharemarketgain
Canara bank spot cmp 306Canara bank started its upmove from levels of 80 and now it trading around levels of 310 almost have given a rally of 4times in last 2 years Now on weekly time frame counter is trading around resistance levels of descending trend line, which is around 310-325 levels, in last one week counter is consolidating in range 303-315 levels and now able to sustain higher, Wolf wave formation is observed from the low of 2020 to till date and counter is overbought as per the structure of wedge, 5th wave of wolf wave is almost matured and waiting for reversal confirmation, any weekly bearish candle formation would lead to confirmation of trend reversal in counter, Bearish divergence on RSI is observed on weekly time frame, price wise reversal can be seen on weekly candle closing below 301 levels, Its time to book your investment on this counter , fresh investment is only suggested above 331 levels on weekly closing basis, any reversal confirmation leads to levels of 260-220 levels,, Time to be cautious on this counter.
NSE:CANBK
by RUDRA007
Long on Canara Bank (CMP - Rs.240)Canara Bank reported healthy earnings led by robust NII/Loan growth and controlled provisions. Margin expanded 6bp QoQ aided by improvement in CD ratio. The bank further carried 25% provisions on its SREI exposure. The management is confident of sustaining growth in advances led by a broad-based performance across all segments and has a strong focus on bringing down the GNPA and NNPA ratios from current levels. CBK reported a steady operating performance supported by healthy loan growth and improvement in asset quality while NII growth was soft as margin contracted 15bp QoQ. The Current price of CBK is less than it's intrinsic value, which makes it a good time to consider, as stock is not in overbought zone. I believe that this stock be added to one's portfolio for long term, as it has high value unlocking potential remaining in coming days. One can consider the levels marked in the chart and follow strict discipline with it.
NSE:CANBKLong
by mayurmalgear
How to compare relative performance between stocks and indices ?You can compare the relative performance by using the compare option on charts. The compare function tool is used to compare the market movements of two or more different symbols simultaneously. Popular use for a comparison chart is comparing two companies within the same sector. Click on the Compare or Add symbol button (displayed as plus sign) on the toolbar along the top of the chart, search and add the indices/stock which you would like to compare. You will see a representation of the percentage comparison from the beginning price point to the current price. To delete the comparison line right-click on it and click on ‘Remove’. This example is comparison chart of Nifty Bank and Nifty PSU Bank. After 12 years i.e. 1st November, 2010 - 7th November, 2022: Nifty Bank - 214% Positive Nifty PSU Bank - 31% Negative Nifty PSU Bank has given breakout. I hope this little information on comparing indices/stocks is useful. Please feel free to write any additional information in the comments section below. Thanks and happy learning/trading. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:CNXPSUBANKEducation
by MandeepSinghKohli