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@nsitharaman : Made this infographic for a better perspective :: The CNX PSU Bank index Chart and the picture convey the whole story -- Complete Destruction of PSU Banks under #PChidambaram!! Under the watch of Rajan--mute at that time, vocal now!! #psubanks @RBI @prasannavishy @TheJaggi @sgurumurthy @PMOIndia @narendramodi
PSU Bank - Monthly wave cycle suggests if this month it fails to close above 2675 then a lot more pain is pending
THE INDEX HAD PASSED THROUGH THE KUMO TWIST AND IS INTO THE BULLISH ZONE. ONCE THE LEVEL OF 3210 IS CROSSED, THE INDEX SHALL REACH 3400 IN THE COMING DAYS. WAIT FOR INDEX TO TRADE ABOVE 3210 LEVEL. FUTURE CLOUD IS BULLISH AND ONE MAY EXPECT THE INDEX REACH THE ABOVE MENTIONED LEVEL.
For the last few years PSU bank index moved in tandem with SBI. SBI raises - PSU Bank Index raises SBI Falls - PSU Bank Index falls. While PSU bank Index fallen 500 points (14%) from March 2019 SBI has just fallen 20 points (6%) from March 2019 Even though BankNifty is beaten down SBI is standing tall. Expecting a good move in SBI after election.
Explained in chart.... Disclaimer: All my post are for educational purpose non directional & non advisory