I hope you can now see how CNXPSUBANK CHART Pattern represents an excellent low risk profit entry setup allowing you to trade. Hence the low risk profit entry setup. You will also have seen with the correct price and time analysis you can determine your entry and exit with high levels of accuracy ensuring the risk/reward is always in your favour..
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PSU bank index has tried to hold the gann support line barring intra day breach. If holds rally coming. Conclusive breach will open next leg to a huge downside. If tomorrow opens flat/positive can try longs with 19th feb lows as stop loss
All mentioned & plotted on Chart.
My personal View. If matched, Like & Share
As i am not SEBI regd. analyst, take this study as educational purpose.
For taking trade decision Consult with financial Advisor.
Going forward till 3700 holds expect upside upto 4350-4450 with big breakout on close above 4350 weekly closing basis.
In case 3700 is broken profit booking upto 3500 will be seen and negate of above view.
Nifty PSU bank , after Govt. news on recapitalization has picked up momentum and already given Multi year breakout.
Gives more bullish view for Bank Nifty , NIFTY and over all market run for 2018.
Those want to double money please stay invested in SBI, PNB, BOB, ICICI, YES, INDUS, KOTAK, HDFC. all banks will be double in one year.
I am not certified SEBI ...
NIFTY PSU BANK CNXPSUBANK - Watch out PSU Banks as CNXPSUBANK index is near support region and indicators are giving hints that it may be a turnaround story soon
Stocks included in CNXPSUBANK are
PNB
UNIONBANK
IDBI
SBIN
ALBK
INDIANB
CANBK
BANKINDIA
ANDHRABANK
ORIENTBANK
BANKBARODA
SYNDIBANK
more selling expected , successfully broke head and shoulder , target 2800 level.
weakest counter - can bank, pnb
stock on the verge of breakdown- idbi
NSE:CNXPSUBANK should be kept long , 3567 is acting as good support for it , also above 50dma . Correction is over for now , should test previous highs soon.
COMPARATIVE STUDY.
NIFTY PSU Bank Index with Some Components.
PNB Looks Good to LONG.
Individual Chart will be Published Later.
Viewers Can Compare Rest of the Components of NIFTY PSU Bank Index.
DUE to Clumsiness of Chart, can't plot more components.
To motivate please Like/ Share / Comment
A new chapter for the Nifty PSU index is unfolding it seems.. Its popping out of the triangle with Positive RSI and MACD signalling higher levels to come ..Tighten ur seats belts for a fast run .CMP 3659 TARGET 4200 STOP 3400
CNX PSUBANK near a tough resistance which has given plenty of trouble in past. can it break this time ?
above 3365 a convincing close may lead
TGT 3393/3601
only above this psu bank may fire up.
