Public Sector Banks: there is something in the PSU banks. all the stocks have formed a similar patter and have give a break out at about same time and have started to move up. You might be thinking what is the pattern. All the PSU banks were hammered in last two and half years they have fallen by 60% to 70% from the top of 2011 and they have now moved above the 200 day EMA all at once and they have moved above it and then can back took support at 200 day EMA again and started to move up which is a very good technically. So considering this we can expect a healthy movement in the PSU banking sector in coming weeks. Also on the break out the volumes were heavy indicating that the interest is coming into the PSU banking sector. Techncially it appears that we might see atleast 20 to 30% move in these stocks. in any case the stop loss should be 200 day EMA. It they move below 200 day EMA just get out.

The charts are furnished below

 M.Mahidar Sri
Trend is Friend