The slowdown in PSU banks started on the day of the Lok Sabha elections. Since then the stock has not seen an increase, now the indicator shows that the stock may rise, if there is a desire to make a profit, one can invest, although the stock may rise.
The full name of PSU Bank is “Public Sector Undertaking Bank”. These are the banks in which the government has a stake. PSU banks in India are generally owned by the government and the government holds a majority stake in their shares. The main objective of these banks is to provide financial services to various sections of the society and contribute to the economic development of the country.
Indicators are clearly signaling their increase. But there is only one obstacle. If the PSU Bank index goes up after crossing the TSI line, it will give a big rally. PSU bank index may trend by end of September.
Rise from bottom position on PSU Bank chart which last formed on 03rd Jun 2024 means, now it may start to rise back from bottom.
As for PSU banks, State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BoB) are some examples of major PSU banks. The main objective of these banks is to provide cheap and accessible banking services to the common people, and they also often help in the implementation of government schemes and programmes.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. If you do not do so, you may suffer financial loss.
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