Looks like PSU Banks are consolidating from the last 2months, more chances to test 3870 this month, lets see
Analysis Criteria Used: 1. Please find the Chart Analysis done for the NIFTY SECTORS for the upcoming week and the following days 2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups Focus On: 1. Always keeping your Risk Management in play 2. Using a Stop Loss; because it is your Best Friend 3. Always...
Is the psu banking stocks ready for a major rally in the coming days ? PSU INDEX has broken out of its long term bearish trend line and has also retested its trendline supports , showing there is a possible change in the trend , overall it is buy on every dip in this sector with stocks like SBIN < CANARA BANK < BANK OF BARODA and many others towards targets of all...
CNX PSU BANK index spot cmp 3945 Chart pattern study Daily time frame. Ascending inclined head and shoulder pattern formation. Currently formation of right shoulder is ongoing , any rise on higher side would face selling pressure till the high point of right shoulder is not taken out on daily closing basis. On lower side nearest support can be taken as the...
CNX PSU BANK index spot CMP 3930 Elliot wave study Time frame :- Daily Index is trading in corrective phase of elliot wave. Formation of wave B is completed and current sell off in index have started to unfold wave C of corrective phase. Any rise in index should be used to exit any long position, till the recent high is not taken out on closing basis. On lower...
As updated previously that psu banking stocks will boom and happened, check previous published idea.
Nifty PSU is at important levels. Tomorrow opening of this sector is important to note whether Nifty PSU will give breakout or spend more time in range / consolidation .
NSE:CNXPSUBANK Multi Year Breakout and Retest. Looking ready to resume the Rally in a 3rd Wave of Bull Market.
above 4350 if we get monthly closing target is 50%
PSU banks will outperform better that PVT banks in coming weeks and chart also says that it has retested it's supportive zone very well...so focus on PSU stocks for better returns.
Last week view On Weekly charts PSUBANK index is moving in this channel and has made a doji at upper resistance line. This is also kind of pole & flag pattern, if breakout happens upside then we can see good momentum in PSU banks Latest position This weekly closing is above the channel but the candle is not very bullish.
CNX PSU Bank: PSU Bank poised to take a lead. Appears correction is over. Close above 4K it is ready for 20% up move. RSI gave BO before price. MACD & ST turned +VE. Price > 18 EMA.
Publishing my idea about "PSU Banks" using higher time frame
M pattern breakdown on weekly time frame, candle closing below the neckline.
Weak below 4175 for 3450-3300 . View will be tuned bullish if price gives close abv 20 SMA and slope of SMA turned to the upside. Expected time frame by March end. Disc : It's not an investment advise to buy or sell. Pls do your research
Indicating reversals from all time trend line. Good to go long with PSUBEES
NIFTY PSU BANK: 4334 SUP: 2800/2200 Broken long term trendlines and moving up. Immediate RES: 5373. As long as the above supports hold, we can see 5800, 6350, 7000, 8000.
NSE: PSU BANK: BULLISH for 8000? As long as above 3100, we can see more bullish move towards 5500, 7000, 8000.