Since late August, I have been bullish on Public Sector Undertaking (PSU) banks. The entire weakness in NIFTYBANK was sponsored by the weakness in private sector banks, while PSU banks were still doing relatively better. Hence, I suggested a couple of stocks from this basket to subscribers during the third week of August. These trades were on Indian Bank and SBI. Let’s revisit them below.
https://ganninsides.com/2025/08/25/indianbank-septembers-cycle-and-the-road-ahead/
Let’s start with Indian Bank. I identified a significant support zone, which was in the 640 to 660 range on the cash market. The stock tested the 660 mark and bounced sharply from there, clearing the 685 level on the upside and achieving our primary target of 703 on cash. The stock continues to stay significantly bullish, and it should only be a matter of time before our second target of 733 is achieved.
https://ganninsides.com/2025/08/20/the-waiting-game-why-patience-is-key-for-sbi-investors/
SBI has been the most boring stock in the entire NIFTY basket. It has been testing our patience for the past few months, because we knew that this sort of consolidation would produce a significant and powerful move on either side. We continued to believe it would generate that move on the upside, and we have been watching it patiently. Thankfully, that patience paid off yesterday when the stock moved above 856 on cash. As discussed above, the immediate targets are 897 and 928 on cash in the near term, but we would eventually be thinking of 1000 here within the next few days. Let’s see.
gann,insides 