Nifty PSU Bank Index

Nifty PSU Bank Index. As on 6 Feb 2021. CMP 2277

Bottom line : Both counts intermediate term Bullish.  Price has exploded above the 1900 level that was formidable resistance.  It should now become a formidable support level.

PSU banks should be an excellent bet going forward.

Primary count : Price is heading up to the 2650 ~ 2700 level in a 3rd of 3rd wave.  This level represents the next resistance level.


Alternate count : This count shows price could be in a 4th wave correction that would come back to test the 1900 level in a possible triangle.  For this count to remain valid, price needs to begin correcting almost immediately.