A very simple Demand Supply analysis with the help of RSI + EMA'S.
Nifty 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...
PSU Bank Index took perfect support at Monthly CPR levels. SBI, JK Bank and Bank of Baroda look good for taking a swing trade.
they are at 4 month support level this is surely a accumulation phase every psu banks come in this sector