Nifty PSU Bank

According to the technical analyst, traders can employ 'buy-on-dips' strategy for Nifty Private Bank, Nifty PSU Bank, and Nifty Financial Services indices

According to the technical analyst, charts suggest rapid technical bounce for the Nifty Auto index, wherein traders can anticipate a price recovery

The sell-off in the banking pack, analysts said, was a knee-jerk reaction to the developments with US-based Silicon Valley Bank (SVB) that announced a share sale to shore up its finances

Though there are some inherent downsides, upsides include low valuations, high dividend yield

According to technical analyst, the Nifty Private Bank index exhibits a bullish trend in the near term, but traders must exercise caution and wait for decisive breakout before taking any new position

SBI, Bank of Baroda, Punjab & Sind Bank, Union Bank of India, UCO Bank, Bank of India, Bank of Maharashtra and Indian Overseas Bank were up 4 - 7 per cent each.

According to the technical analyst, Nifty Private Bank exhibited a bullish pattern, supported by technical indicators, indicating a positive outlook for traders in the short term

According to the technical analyst, since Nifty Private Bank trades in a bearish trend, with moving averages, MACD, and RSI trending downwards, this, therefore, signals a negative market sentiment

According to the technical analyst, traders should adopt a strategy of purchasing near support and selling near resistance for the Nifty financial services index

A Bloomberg report said that Credit Suisse Group AG has stopped accepting bonds of Gautam Adani's group of companies as collateral for margin loans

Global broking and research firm CLSA said on Thursday, that the Adani Group poses no "significant downside risk" to Indian banks.

According to the technical analyst, the Nifty Auto index can rally to 13,050 - 13,160 levels.

Motilal Oswal Financial Services believes that sustained and consistent performance on delivering healthy return ratios can result in further re-rating of the stocks.

At 11:35 am; Nifty PSU Bank index, the top gainer among sectoral indices, was up 2 per cent, as against 0.06 per cent decline in the Nifty50

With today's fall, the Nifty PSU Bank index has corrected 15 per cent from its 52-week high level of 4,617.40 touched on December 15

In the past one month, the Nifty PSU Bank index has rallied 17.4 per cent as against a 2.1 per cent gain in the S&P BSE Sensex

The index hit an intra-day high of 4,145.45 before ending at 4,049, up 0.05%; m-cap at close was Rs 9.9 trillion

The Nifty PSU Bank index hit a new high of 3,811.15 on Wednesday, and has zoomed 67 per cent from its 52-week low of 2,283.85, touched on June 20, 2022.

Analysts see up to 31 per cent and 17.6 per cent upside in SBI and BoB's stock, respectively, from a one-year perspective

SBI hit life-time high, while Bank of Baroda registered a new 52-week high in trades on Monday after the banks reported strong Q2 earnings over the weekend. Here's what the charts indicate ahead.