Nifty Financial Services Index
The Nifty Financial Services Index, with a current market price (CMP) of 20,0057.30, has been exhibiting a short-term uptrend on the charts. However, it is crucial to observe that, for this month, the index is expected to find support around the 19,800 level. Until the index reaches this support level, it is advisable for bullish traders to refrain from establishing new bullish positions. Additionally, another significant support level is anticipated at 19,480, which serves as a crucial anchor for the index this month. Traders are recommended to exercise patience and wait for a favorable opportunity to buy the index and its constituent stocks near the support levels.
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Nifty PSU Bank Index
The Nifty PSU Bank Index, currently trading at a CMP of 4,433.50, is displaying a bullish trend on the charts. Traders should note that the final target for the ongoing trend is projected to be in the range of 4,620 to 4,875. To capitalize on this trend, the optimal trading strategy is to buy the index during price dips near the support level. On the charts, the index is anticipated to find support around 4,360 and 4,250.
Nifty Pvt Banks Index