Punjab National Bank - Complex Cup & Handle.Strong set of numbers across last 3 Qtrs. super Bullish trend. once price moves upside it will keep completing multiple Cups.
Psubanks
RVNL Weekly Flag BreakoutA flag and pole breakout has been observed in the weekly chart of NSE:RVNL . One can create a fresh position in the scrip around 135 or below with a stopploss of rs 115 for targets of 155/175/195
Exit the position if the stop loss is triggered on WCB.
DO YOU WANT ALL MY RESEARCH FOR FREE THEN DON'T FORGET TO FOLLOW ME.
I AM EAGERLY WAITING FOR YOUR COMMENTS ON THE STUDY...
Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
Breakout alert in CSB bank.>>Stock has been in an uptrend since last year.
>>Over one year, it has been following a special trend line.
>>Since January 2023, it has slightly changed its direction and is now forming a beautiful
symmetrical triangle pattern.
>>Today, it has reached its resistance level and appears promising to break it.
>>If it breaks the trend line, we can initiate positions with a 1:1 risk-reward ratio as explained in the chart.
>>PSU banks were in the limelight today due to their exceptionally good Q1 results.
>>CSB banks also performed well, suggesting a brighter future for this stock.
BANKINDIA Monthly analysisBANKINDIA now 88
Long bull run pending
Once break Trendline at 105 in Monthly chart
Unlocking the Secrets: Nifty PSU | A simple analysisNifty 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.
PSU BANKING CHAMPION - BANK OF BARODABOB (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
BANKBARODA Long SetupAttached: 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 the money flow is shifting
POWERGRID CORPPowergrid 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 BARODABANK 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
NIFTY PSU BANKSIs 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 time highs in the index , above that sky is open and rally may not be stoppable
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.
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,
Canara Bank Bearish GartleyCanara Bank - Bearish Gartley
Sell PRZ - 326 - 330.8
SL - 342 ( Day Closing Basis )
Target - 305/299
#PSUBANKS Analysis As updated previously that psu banking stocks will boom and happened, check previous published idea.
Bank of Barodha : PSU BANK 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.
SBI India Long from support trendlineSBIN Took support from multiyear support trendline and is ready to touch 650+ levels. SL of 40 points for RR 1:3
Bank of Baroda Triangle ThrowbackA 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 BANK ANALYSIS 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 (BOB) Bank of baroda had breakout zone ..weekly time frame target is really Big
Best in PSU Stocks
Short term investment idea - PNBThis is one of the best PSU bank right now. Amount recovered from bad debt are its profit.
WeakWeak 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
