In addition to Nifty PSU Banks breaking down to new all-time lows on an absolute basis, we're also seeing new all-time lows relative to the Nifty 100. This trend of underperformance has accelerated and unlikely to continue this steep pace for the long-term, but there's no reason to be looking for a reversal just yet. We’re not here to catch falling knives or be...
Here’s the leader of the weakest stocks, Nifty PSU Banks, breaking down to new all-time lows on an absolute basis. When bullish momentum divergences fail to spark any sort of upside traction, that shows that sellers are remaining aggressive even at lower prices and that the downtrend remains firmly intact. If prices are below their recent lows of 1,220 then we’re...
Multi Year Demand Zone approaching.
Watch out for the levels and keep good volume PSU bank stocks on watchlist for catching the move
Your opinions of the budget on Saturday will be appreciated. Last time around the FM made all banking stocks really volatile notably Public Sector Banks on budget day. However we are trading at very different price levels from the...
@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
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.