PSU Bank Index showing signs of a Turn around
PSU Bank Index is was trading near Historical Support Zone and Failed to Break on the downside.
Reasons:
How to Trade:
This will give a good base for PSU Banks Stocks to Launch again after months of Correction. Do not overexpose but while keeping an eye on Fundamentals once can trade long on the Index.
My Favourites are
SBIN
BANKBARODA
BANKINDIA
CANBK
INDIANB
Smartly accumulating and Buying on Dips can give good returns in these Stocks
Reasons:
- 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 resistance.
How to Trade:
This will give a good base for PSU Banks Stocks to Launch again after months of Correction. Do not overexpose but while keeping an eye on Fundamentals once can trade long on the Index.
My Favourites are
SBINBANKBARODA BANKINDIACANBK INDIANBSmartly accumulating and Buying on Dips can give good returns in these Stocks
Position Size: 2% Risk or less ALWAYS. CANNOT RISK MORE.
Support/ Resistance/BUY/SELL/SL/TP Prices are ALWAYS RANGES and Not Exact Prices
Support/ Resistance/BUY/SELL/SL/TP Prices are ALWAYS RANGES and Not Exact Prices
Feragatname
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