NIFTY PSU Bank Index: Time to Accumulate PSU Stocks 21.01.2026
Research Note: Time to Accumulate PSU Stocks
PSU Bank Constituents (Focus List)
- SBIN – 1030
- Bank of Baroda – 300
- Canara Bank – 151
- Punjab National Bank – 124
- Indian Overseas Bank – 34
- Union Bank of India – 173
- Indian Bank – 841
- Bank of India – 158
- South Indian Bank – 44
PSU Bank Index maintains bullish dominance despite a corrective pause; strength above 8,850 may revive upside, while weakness below 8,725 could invite deeper pullback.
- Chart Name : NIFTY PSU Bank Index
- Current Market Price : 8,783
Chart Outlook & Prediction:
- The index continues to trade within a broader bullish structure, undergoing a healthy short-term correction after recent highs. Sustaining above the 8,725–8,700 zone may stabilize momentum and support a rebound toward the 8,950–9,050 range. A decisive break below this support band could extend corrective pressure toward 8,500, where stronger demand is expected to emerge.
Major Support and Resistance
- Support: 8,725 / 8,510 / 8,430 | Resistance: 8,850 / 8,945 / 9,050
Volatile Price Levels
- Weekly average range: 350–450 points
- Daily average range: 140–190 points
Multiple Rejection Areas – Caution Zones (Top)
- Repeated price rejections in the 8,950–9,050 region signal strong overhead supply and resistance pressure.
Multiple Rejection Areas – Support Zones (Bottom)
- Multiple buying reactions around the 8,725–8,500 zone highlight a strong demand area cushioning downside risk.
Disclaimer : This analysis is for educational purposes only and not financial advice. Please consult your financial advisor before making trading decisions.
