Nifty PSU Bank Sector AnalysisPSU Banks reversal from support
Relative Strength is coming above 0 line and turning positive
RSI above 55 will Bullish sign
CNXPSUBANK trade ideas
PSU BANK Sector Ready to FlyI am bullish in this sector because of price already made a inverted head and shoulder chart pattern in weekly chart and now trading to its important support Zone . In daily chart set up price consolidate above 200 Day MA and Break the upper boundary of the consolidations zone . So high probability price continue the uptrend .
PSU BankPSU Bank at support levels and can bounce back
Keep good names on watchlist to add
1. PSU Bank Bees
2. SBIN
3. Canara Bank
4. PNB
5. BOB
6. Federal Bank
Nifty PSU bankIn bigger timeframe it is in downtrend for years.
Now showing good up move in daily timeframe and has multiple
reasons to continue bullish momentum.
But not sure till where it will last.
Resistance zone is near too.
Let's see.
This post is for information purpose only.
Nifty PSU BankOnly index seems to be in positive territory of the lot...
Buy near the Green level if u get...
Else breakdown levels is also mentioned.
Like... Share... Follow ( to stay tuned to updates)
PSU BANKS... MORE CORRECTION AHEADThe chart of PSU BANKS had completed the 5th wave of Elliot waves and has started correcting. If my prediction goes well we can see a recovery in these stocks and then a steep fall from there (roughly around Diwali time).
PSU BANKS- SBIN, CANARA BANK, BANK OF BARODA, PNB, INDIAN BANK, UNION BANK. Keep these stocks on your radar.
CNX PSU Bank_Bearish DiversionBearish Diversion in CNXPSU Bank Negative diversion.... Let see what happened next
PSU BANK INDEX -- BullishBullish Patterns in the Chart. Formation of Cup & Handle, Flag Patterns. Growing RSI and Relative strenth compare to NIFTY.
PSU BANK INDEX GAVE A SUCCESSFUL PULLBACK AFTER THE BREAKOUTThe highs made in Feb 2021 and Jun 2021 were broken. They formed a strong supply zone, which was broken and has been tested successfully with today's bounce.
Tomorrow being an expiry day, we couldn't see much action or may see consolidation but a rally could be expected in the second half-session tomorrow and may continue on Friday too.
We shall try to analyze some of the PSU bank stocks for breakouts.
Happy trading :)
This is just for educational purposes.
PSU Bank index - potential 25% quick gainsPSU bank index is showing signs of bullishness and momentum
One can buy Nippon India PUS Bank Bees at CMP and keep adding on any dips
PSU Index H&S Brekoutit has given inverted H&S breakout on weekly chart.
all set for 60% upside based on H&S breakout.
near hurdle can be seen at 2900 levels.
if index has upside potential of 60%. underlying stocks can give multibagger returns.
NIFTY PSUBANKS BREAKOUTPSU BANKS INDEX has given a breakout after 7 months. lets hope this one takes it to next levels. a few stocks i have already published on trading view you may check the same.
Inverted Head & Shoulder Breakout Nifty Psu bank index made a inverted head & shoulder pattern in weekly chart .
Another sector is ready to fire...PSU banking index look attractive & anticipated stocks will be ready to blast under this sector keep closed eye on radar !!!!
CNX-PSUBANKHello All,
PSU banks have been underperformers, however I can see a turnaround in this sector. A very beautiful VCP pattern is in formation and with a breakout of the horizontal line we may see some good rally in PSU banking stocks.
Now, what to do after knowing this? How to look for stocks in this sector which may give good returns?
Simple solution:
1) Take out the list of PSU banks.
2) Observe their charts.
3) Watch out for the one's which have already started to outperform their sectoral index i.e. CNXPSUBANK.
4) Keep a track of the stocks which are near their breakout zone or are trading at their resistance/support zones ( add them in your watchlist/ place price alerts).
5) Once you prepare a list of such stocks, read about them. See news articles related to those banks. I am sure you will find some good articles as to how their results might be.
Note: Once you find your bet do not simply put in all the capital you want to invest in one go. Enter let's say 50% of the amount you want to invest, and then if the stock behaves in your direction you may think of adding further capital. Learn Pyramiding.
I hope you will all follow this process and omit/add steps to it while filtering the stocks as per your experience/expertise.
Do reach out to me incase you have any doubt or any advise/suggestion for me:)
Happy Trading!
Nifty PSU Bank - Potential Index for Next 2-3 MonthsIt could be heading for higher levels..
Details on the chart
PSU Banks - getting ready to breakPrice forming a pattern near the resistance and it will break in the coming days, as the analysis is on weekly time frame it takes months to break. One should look for breakout patterns in PSU banking stocks.
Nifty - Public Sector Bank Inverted Head and shoulder pattern which is like a mother pattern of what was repeated earlier. Shown the earlier pattern with success marked with white line. Same is being indicated to happen, on a much larger scale...
Do trade your hard earned money after consulting a registered stock market expert, I am a newbie trader :)
Nifty PSU BankAt a lower level of the trendline. If the market supports we can expect a bounce from this level. Let's watch
PSU BanksIf you are bearish on BANK NIFTY tomorrow and plan to short, why not look at precarious PSU Banks for a bigger success? They are all placed precarious and market has been punishing weakness in all stocks with no mercy from several days. Why not hit it where it hurts the most. Trade subject to confirmations. Goodluck.
PSU banksPSU banks can complete correction now at 38% retracements to start moving up. Hope to hold on the channel bottom without going to 50 or 68% retracement. Good risk reward at this point to try
Nifty Psu banks looking bearishNifty PSU banks looking bearish , should move down till support zone for the week
this is for educational purpose only
nifty psu index breakout NIFTY PSU BANK INDEX GRAAA TURN AROUND STORY CAN COME
Public Banks Q1 JUNE 2021 Results ⬆️ Net Profit (In Crores) SBI - 6,504 BOB- 1,208 Canra-1,177 PNB - 1,023 UBI - 1,181 Indian-1,182 BOI - 720 IOB - 327 BOM - 208 CBI - 206 P&S - 174 UCO - 102 All 12 Public Banks are in Profit .
