PSU Bank Index showing signs of a Turn around

29 thg 7, 2018

PSU Bank Index is was trading near Historical Support Zone and Failed to Break on the downside.

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.

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SBIN
BANKBARODA
BANKINDIA
CANBK
INDIANB


Smartly accumulating and Buying on Dips can give good returns in these Stocks