I first mentioned about PSEINDEX coming out of multiyear consolidation and give a major breakout during one of the video which I posted in August 2022. Link is there in related idea section and listen from 12:30 mins.
The index is on the verge of multiyear breakout and possibility of giving a highest monthly closing ever is more than ever before.
Keep scripts...
NIFTY PSE at important junction.
AT 4327 it's 12 years' horizontal TL resistance and
at 4455 it's 5 years' horizontal TL resistance.
A close above 4456 will confirm Cup and Handle formation. If it closes and sustains above 4455 the the PSE sector will be in an unchartered territory.
Main hurdle is violet horizontal TL.
CNXPSE or NIFTY PSE - Public Sector Enterprise
All of you might be noticing that loads of public sector entities are touching new 52 week highs and even new lifetime highs and commanding a strong uptrend.
Rightly so as the wait of around 16 years is worth a really SWEET FRUIT.
I was myself never a fan of PSU stocks untill I noticed the changes and strength in this...
The supply zone is 15 years old resistance zone. Everytime PSE index has come near this zone, it has almost went down to the lower green zone.
But from last 1 year it's consolidating near this zone and expecting that this supply zone can be taken out in another couple of months may be to make a new H
The nifty pse index all time level breackout, last time the nifty pse index all time breackout in Jun 2003 the index move in more than 350%, this time the index all time level breackout in after 12 Year. We are bullish in the this index chart. my view the index move more than 400% in this time. What is your view please share...
For more please subscribe my channel
Nifty PSE index is on the verge of giving a good breakout
Daily / Weekly / Monthly RSI are favorable
If this breakout is successful, then it will be a breakout of 15 years
Turn around in PSE sector? Typical long term Wyckoff consolidation in the sector and might overperform NIFTY 500 once it breaks 4680 - 4700. Interesting names in the sector are BEL and HAL.
NIFTY PSE Forming a double top pattern on daily timeframe.
My suggestion would be to short stocks that are looking bearish in this space.
Note: This is only for educational purpose and not a stock advice.
Please share/comment if you like the idea.
After a 5 wave advance the Nifty PSE index , is making a higher high. The implications are that the move upwards is not over and extending into multiple legs. 13 waves or 17 waves only time will tell. We know that it is not over and that is a good starting point.
With the markets being at an ATH and no real value visible in more PVT companies nor commodity companies..is it FINALLY the time of the PSU's.
From PSU banks like SBI & Canara Bank in the banking sector to ONGC, BPCL and GAIL in the Oil an Gas space to Concor (Idea shared last week) and Coal India.
NALCO in the metal space is close to a 10 year breakout too....
Nifty PSE is currently trading at the multiyear strong supply zone which has been tested 3 times since June 2018 but PSE failed to break.
We can see a breakout in the daily timeframe's trendline as pointed on the chart. Currently, NIfty PSE is 2.6% away from the top of the supply zone. If this supply zone is broken, we can see momentum in PSE stocks.
XABCD...
