“PSU banks are experiencing a fresh breakdown, forming a bearish island reversal on the daily chart of the PSU bank index. Further weakness is expected in the near term, with the index potentially extending its move towards 8,300. A wait-and-watch approach is advised, with plans to pick good counters like Bank of Baroda, Canara Bank, and Union Bank once the index reaches 8,300.”

Rajesh Bhosale’s track record: 9 graded calls · 95% CI 19–73%