A Simple analysis on NIFTY PSUBANK IndexA very simple Demand Supply analysis with the help of RSI + EMA'S.
CNXPSUBANK
NIFTY PSU BANK (CNXPSUBANK) is looking bullishNifty PSU Bank index recently broke its all-time high. It also retested the 5431 (5375) level on a daily time frame. It has been making a rounding bottom pattern, a solid pattern among all the bullish patterns. The relative strength index is above 60 on weekly and monthly time frames. It has been on an uptrend for the last couple of years. There is no resistance on the upside. If we measure the deep from the neckline, we can predict the target of the same depth on the upside.
PSU Bank Index perfect support at CPRPSU Bank Index took perfect support at Monthly CPR levels. SBI, JK Bank and Bank of Baroda look good for taking a swing trade.
psu banks in buy zone they are at 4 month support level
this is surely a accumulation phase
every psu banks come in this sector
