BEARS TAKEOVER IN PSU BANK INDEX ??The PSU Index saw a strong rally after a falling wedge breakout but now faces resistance near 7250, with bearish RSI divergence hinting at weakening momentum. A pullback is likely, and price action at 6838 or 6572 will decide whether the uptrend resumes or a downtrend begins—impacting key PSU bank s
Nifty PSU Bank Rally - Real or Trap ???Since US Federal Reserve cut 50 bps points on their interest rates last week - there is so much Hungama on the Media Channels about an impending BLAST on the Nifty PSU Banking Sector
Everyday there is news that the Sector would Rally and as "Anticipated" by so many the PSU Bank index Blasted 3% yes
PSU Banks Can take off from here. Signs looking ominous. Trend line has given support to PSU bank index. Father line has given support to PSU bank index. If mother line gives support later this week. They can have a huge upside in the range of 10 to 40% depending on individual banks and their fundamentals.Things are looking ominous. Mother Line Breakout (
Public Sector (PSU) Banks at SupportAfter a stellar half decade post Covid, the shares of Public Banks have shown signs of exhaustion.
But, the underlying companies are in good financial shape and posting record top and bottom lines.
I still believe there is a lot of steam left in the like of Canara, BoB and SBI.
I can see these stock
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Displays a symbol's price movements over previous years to identify recurring trends.