Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
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Nifty PSU Bank has crossed above 12 year strong
horizontal resistance line and given a strong weekly closing.
BOB,BOI,PNB,Union Bank of India , SBI and Canara Bank
all are doing good.
Above the blue trend line it may boom to new highs.
ASCENDING WEDGE STRUCTURE
index is trading around resistance zone as per structure
if failed to sustain at higher levels
sharp reversal can be seen,,
keep watch on psu stocks
look like time to pocket profits in psu stocks
PSU BANK INDEX
On monthly tf psu bank index looking good .Stock of this sector can give good momentum like sbi , bank of baroda, central bank, indian bank , maharastra bank, j and k bank etc
THE CHART SPEAKS IT ALL DO YOUR OWN ANALYSIS,
psubank index shows an monthly breakout breaking resistance of year2010, can expect good rallies in the sector
You can compare the relative performance by using the compare option on charts. The compare function tool is used to compare the market movements of two or more different symbols simultaneously. Popular use for a comparison chart is comparing two companies within the same sector.
Click on the 'Compare or Add symbol button' (displayed as plus sign) on the toolbar...
@NIFTYPSU BANK INDEX
Psu bank index big breakout after long time consolidation(2010) on weekly basis.
I think this time to make psu bank list for investment purpose with good fundamental
Currently all PSU bank clear bad npa allmost and generate good NIM & Eps etc and also declining npa.
We know that psu bank always have bad npa in last past year thats the reason...
watch nifty psu bank stocks in next few years.
Watchlist
-Bank of Baroda
-Bank of India
-Bank of Mah
-Canara Bank
-Central Bank
-Indian Bank
-IOB
-JK Bank
-Punjab & Sind
-PNB
-SBI
-UCO Bank
-Union Bank
Warning:-Please note that I'm not a financial advisor, and investing in the stock market involves risks. It's important to do thorough research or consult with a...
nifty psu banking stock going again after good results
watchlist..
1- union bank
2- indian bank
3- canara bank
4- pnb
5- bank of india
6- bank of mah
7- jk bank
Achieving a monthly close above 5375.85 is absolutely crucial for a monthly breakout. It is very important that you keep this in mind as you evaluate your investment strategy. Please remember that this information is meant for educational purposes only.
Nifty PSU Bank is hovering around the
orange horizontal TL which is 5 years
strong TL.
RSI is also overbought and therefore a precaution is must.
A short term profit booking in the PSU bank stock cane be seen.
Above the orange TL we can see a gain of 300-400 points.
NIFTY PSU BANK: Had a wonderful rally from 4500 to 5500+,seems profit booking is happening as evidenced by spinning top pattern in weekly pattern ,10EMA cross below 20 DEMA
(For educational purpose only)
PSU banks in general are looking good with most of them already giving good gains over the past 6-12 months. Nifty PSU index has already given a breakout and will soon hit new ATH. Next few years these banks will give good returns just like other PSU stocks like REC, PFC.
PSU Bank index need a little correction down to 46010, (approximately).
• Keep eyes on PSU banks like UCO bank, Union Bank and PNB etc.
• Set your stoploss strictly, market doesn't care about your position.
• Go to my profile and check YouTube channel for best swing trading stocks.
• And always set your own strong strategy, don't believe in anyone, neither me...
