A lot of large PSU names are interestingly placed with multiple attempts at their resistances.
Such formations can eventually lead to structural uptrends.
Continue to stick to the positive view on PSUs.
Do read this older article in November.
Nifty up But Stocks are Down !!. Time for Stocks to Catch Up in coming years.
Snippet from the post.
Things to Note
- Covered only the large PSU heavyweights. Even smaller ones are shaping up well.
- Do look at dividend adjustments to time breakouts.
SBI - Finally above the 350-370 mark after many attempts in last 10 years.
Coal India - Multiple attempts at 150-152.
GAIL India - Back above covid prices. Stronger Momentum if it can cross 145.
ONGC - Range of 90-107. Setting up for a breakout.
Powergrid - All time highs.
NTPC - A triangle breakout on cards. Much stronger move above 105.
HPCL - Multiple attempts at 233-235.
BPCL - Multiple attempts at 430 in last 6 months. ex div of 16 rs.
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