CNX-PSUBANK
Hello All,
PSU banks have been underperformers, however I can see a turnaround in this sector. A very beautiful VCP pattern is in formation and with a breakout of the horizontal line we may see some good rally in PSU banking stocks.
Now, what to do after knowing this? How to look for stocks in this sector which may give good returns?
Simple solution:
1) Take out the list of PSU banks.
2) Observe their charts.
3) Watch out for the one's which have already started to outperform their sectoral index i.e. CNXPSUBANK.
4) Keep a track of the stocks which are near their breakout zone or are trading at their resistance/support zones ( add them in your watchlist/ place price alerts).
5) Once you prepare a list of such stocks, read about them. See news articles related to those banks. I am sure you will find some good articles as to how their results might be.
Note: Once you find your bet do not simply put in all the capital you want to invest in one go. Enter let's say 50% of the amount you want to invest, and then if the stock behaves in your direction you may think of adding further capital. Learn Pyramiding.
I hope you will all follow this process and omit/add steps to it while filtering the stocks as per your experience/expertise.
Do reach out to me incase you have any doubt or any advise/suggestion for me:)
Happy Trading!
PSU banks have been underperformers, however I can see a turnaround in this sector. A very beautiful VCP pattern is in formation and with a breakout of the horizontal line we may see some good rally in PSU banking stocks.
Now, what to do after knowing this? How to look for stocks in this sector which may give good returns?
Simple solution:
1) Take out the list of PSU banks.
2) Observe their charts.
3) Watch out for the one's which have already started to outperform their sectoral index i.e. CNXPSUBANK.
4) Keep a track of the stocks which are near their breakout zone or are trading at their resistance/support zones ( add them in your watchlist/ place price alerts).
5) Once you prepare a list of such stocks, read about them. See news articles related to those banks. I am sure you will find some good articles as to how their results might be.
Note: Once you find your bet do not simply put in all the capital you want to invest in one go. Enter let's say 50% of the amount you want to invest, and then if the stock behaves in your direction you may think of adding further capital. Learn Pyramiding.
I hope you will all follow this process and omit/add steps to it while filtering the stocks as per your experience/expertise.
Do reach out to me incase you have any doubt or any advise/suggestion for me:)
Happy Trading!
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