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NIFTY PSU BANKS DOWNSIDE VIEW -- FROM 2950 TO 2600 IN 1-2 MONTHS
NIFTY PSU BANK.........PREDICTION.............
CNXPSUBANK breaks below range of 2655-2700
majorly contributed by SBIN which breaks below support of 256
next support for CNXPSUBANK would be around multi-year support level of 1900-2050
which would mean that SBIN expected to test support in 232-235 range
Very long term charts on PSU bank nifty. Gann aupport around 2100-2150. Turn date around april 2019. It's a weekly so keep that in minf
Nifty PSU banks (CNXPSUBANK) weekly chart study - megaphone
below 2600 looks weak
Nifty PSU Bank index is standing near to very important level of 2650....if closes below this level, next support comes around 2150. In this case SBI may fall to 250-238-230
If the index closes below 2650, we may see 2150 levels. Be caution before buying the psu bank stocks. This is monthly chart
This Index gives clarity as regards how PSU Banks are going to fare. From lows, the Index has come up to 200 DMA. But there is lack of direction. It is learnt that RBI is working hard to settle the nagging issue of NPA. If the efforts of the RBI bear success this Index will settle above 200 DMA and scale up. Then we may invest in good PSU stocks such as SBI. At ...
PSU Banks have been in a consistent downtrend since the rally they had after 2008 Financial crisis.
This charts looks at last 10 years for PSU bank index and they seem to be following the trend line.
index needs to have strong consecutive weekly close above 3350 for a major uptrend to start until then its a sell on rally.
We should wait for Index to close below ...
THIS HOURLY CHART PANEL SHOWS CRUCIAL POINTS
THIS MEANS THAT THE INDEX HAS ACTUALLY TRADING IN A
RANGE WHICH IS VISIBLE IN STOCKS LIKE:-
IF YOU WATCH INDIVIDUAL CHARTS MKT MOVES FROM BOTTOM TO TOP AND SO FOURTH BUT CREATING GRADUALLY(HIGHER HIGH AND HIGHER LOWS)
TRENDLINE BREAK WILL TEST 3190-50
UPSIDE THERE IS CHANCE OF TEST 3350
BUY CANBK ...
3352 - 3363 looks Crucial in Upside. Potentially trending with "-VE" bias.
BIAS of Stocks in Constituents of Nifty PSU Bank Index.
In "-VE" Bias: BANKBARODA', CANBK', IDBI', INDIAN Bank', ORIENTBANK', UNIONBANK'.
In "+VE" Bias: ALBK', PNB'
Neutral: May be Flat to "-VE" Bias: ANDHRABANK', BANKINDIA', SBIN', SYNDIBANK'.
Education purpose only.
Buy the dips on PSU bank nifty here
Breakout on the Index...watch out for SBI as well...
PSU Bank Index is was trading near Historical Support Zone and Failed to Break on the downside.
The Green Zone can be seen a Strong Support on Monthly and Weekly Charts.
It has made a Triple Bottom near the Support.
Weekly Closing Strong Bullish Candle.
Monthly Closing Bullish Engulfing.
Still ~300 points far from the immediate ...