Nifty PSU Bank index dips below 200-DMA after more than 2 years; what next?

Quick Summary:

The PSU Bank index had zoomed 200% to a high of 8,053 after breaking above its 200-DMA in July 2022.

At present, most PSU Bank stocks, barring SBI, are trading below this long-term moving average.

On the weekly scale, the index is seen testing support at its 20-WMA (Weekly Moving Average) - again another key moving average that the stock has honoured since July 2022.

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Category: BusinessFinance

Markets: India

Topics: Sbi stock Bank of india Idbi Stock market analysis Bank of baroda Share market today Nifty psu bank index Technical chart Technical analysis Psu banking index Pnb

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Published On: 2024-09-09 @ 12:40:02 (8 hours ago)

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News Source URL: business-standard.com

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