Nifty PSU Bank IndexPembelian
CNXPUSBANK - MONTHLY CHART ANALYSIS
This index is showing strength. After breaking the 10-11year old down trend line it went straight up and then retraced 38.2% and now back to the same levels. I have already invested some portion in the month of April when some PSU banks were setting up good. Now have found many PSU banks coming in my weekly scans and having position in individual banks is not possible rather when the whole sector is showing strength it's better to bet on the index as whole.
Initial target would be ATH levels and then if it sustains there 5625 shall be tested.
4491-4709 shall act (is acting) as small resistance. My SL is monthly swing low. CLBS(Closing Basis) which is 10% for my position.
We're looking at a monthly chart so vision should be 1.5-2yrs. Shorter timeframe ke MOH MAYA me mat aana.
Disclaimer: I am already invested around 4100 levels. This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Initial target would be ATH levels and then if it sustains there 5625 shall be tested.
4491-4709 shall act (is acting) as small resistance. My SL is monthly swing low. CLBS(Closing Basis) which is 10% for my position.
We're looking at a monthly chart so vision should be 1.5-2yrs. Shorter timeframe ke MOH MAYA me mat aana.
Disclaimer: I am already invested around 4100 levels. This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
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