ilmscore | Prediction Details
"this is the Nifty PSU Bank index okay this is entire Nifty PSU Bank index and this is a monthly chart that I have pulled up right now if you see here it has been range bound since what I mean just have a look at this this stop at 562 index level this was in 2010 since 2010 this entire space has not given any return it was high low lower high almost lower low lower high again a lower low and this was the immediate previous High I hope you are able to see this this was the immediate previous high was this broken yes or no I don't know so just have a look at this now I'm going to zoom this I hope you are able to understand this one more time for those who did not understand see first of all we have to try and spot if there is any Trend reversal or not correct so high low lower high almost a lower low lower high again a lower low and first to get outside that downtrend we have to see a breakout so this was not like a very sharp downtrend but more or less like a sluggish downtrend slow downtrend okay so this was the immediate previous High which was needed to be broken so I'm just going to draw a horizontal line here we'll just try and make it a little bit a little bit more accurate okay now if you can see a one minute this is a bit more accurate yes so I'm just going to zoom this in further okay so was this broken attempt was done to break it but then it did not it collapsed and again we saw in the month of July 2023 this year July 2023 we saw that it got broken immediate next month we saw within the same month it almost saw a retest and now maybe this is just the beginning of a bounce that we can see so again understand this was the level which had to be broken"
By CA Rachana Phadke Ranade | November 12, 2023 | Pending
From video
Can this theme be the next multibagger? | Mahurat Trading | Samvat 2080 | CA Rachana Ranade 00:08:00 - 00:10:25
Interpreted Prediction
The Nifty PSU Bank index has been range-bound since 2010. A breakout occurred in July 2023, indicating a potential trend reversal and the beginning of a bounce.

Prediction Details

Topic
Nifty PSU Bank Index

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