Rounding bottom breakout observed, confirm trend with retest of descending trendline.
PSU companies about to rallying ONGC,GAIL,COAL India,BHEL,BPCL keep on radar.
Hi Just an observation and analysis based on charts and other technical factors Looks like we are going to see an uptrend on NIFTY PSE i.e. >51% outstanding shares owned by Central / State govt The list of all the PSE mentioned in the below link and individual charts are also indicating a bull run for PSE in.investing.com
With the big mind set change of the Government towards PSUs over the last 1 year (stopping of CPSE offers, announcing Privatization of BPCL and CONCOR Last Year) and now a clear vision being communicated in the Budget...CNX PSE Index is gearing up for a big take off...if we go by the charts if the breakout sustains above 3100 then we are talking above a move...
PSE Index is being formed on Daily Chart a Rounding Bottom, It indicates price reversal to last resistance trend line... So, It is in flavor in upcoming days...
NIFTY PSE were all under performer during the current rally. Are they likely to perform now. Charts formation is good. Study the Chart carefully
Nifty PSE is performing better, many breakouts are seen in individual shares
If NIFTY PSE Index Moves towards Midian -> Upper Band of parallel channel, Who Tooks Initiatives? Think Heavy Weights. Top constituents by weightage (Name(WEITAGE%) NTPC'(13.23%), ONGC'(11.83%), POWERGRID'(11.12%), COALINDIA'(9.11%), IOC'(8.82%)...... Some Fundamentals: P/E => 10.94, P/B => 1.48, Div Yld => 4.32, Correlation (NIFTY 50): 0.69(1 Year), Std....