Chart check: SBI Q4 result fuels rally in PSU banks. Should you buy?

A breakout in SBI share may result in a rally towards Rs 450 levels

Stocks of public sector banks (PSBs) were on a tear on Monday, their rally fuelled by stellar March quarter results by India's largest PSB State Bank of India (SBI). Nifty PSU Bank index was the top performing stock on the National Stock Exchange (NSE), up 2.7 per cent at 11:21 AM, as against a 0.34 per cent gain in the benchmark S&P BXSE Sensex.

Individually, SBI shares gained 4.4 per cent to quote at Rs 419 on the NSE in the intra-day trade, having rallied 9 per cent in the past two trading days, after the bank on Friday reported