CNX PSU BANK formed NEO WAVE corrective pattern in weekly time frame that is double combination and according to gann price & time square out psu bank price balance with life time high with current time prices it will take some time for balancing. when both condition will fulfilled. then psu bank will be bullish for next 3 to 5 year.
BUY ALL PSU BANKS WITH INDEX BASED SL 2310(CLOSING) BECOZ IT WILL HELP TO BANKNIFTY NEXT RALLY.
#NiftyPSUBANK #FallingChannel #LawOfPolarity #WeeklyChart Close above 2626 Next Tgt 3100/3180+ Possible
It is in broadning formation and it is a bearish sign
Indian PSU banks index is looking more down before real buying starts ( Updates on this chart on monthly basis!!!)
CNXPSUBANK need 30pct haircut.. back to 2016 lows....
Pre empting AB=CD 3250 is imp level to watch below that it will open for 3120
Nifty PSU bank has broken down from a rectangle pattern; futher fall likely
This seems to be in a triangle. An up move can come following a dip for wave e. A corrective structure is also forming in SBIN. So both of them can move up together. Tomorrow is RBI policy outcome. Let's see.