OBC, Canara Bank: Two PSU bank stocks that look bullish on the charts

The stock of Oriental Bank on the weekly chart has formed "Inverse Head & Shoulder" with neckline in the range Rs 98 - Rs 99.

Nifty PSU Bank index: The Nifty PSU Bank index had consolidated around its 100-day moving average (DMA) located near 2,966 – 2,960 levels before crossing the high (3,050) of Symmetrical Triangle as per the daily chart pattern. Earlier, the index had witnessed selling pressure above 3,000 levels, as it could not close strongly as per chart. However, this time around all major moving averages, 200-DMA and 50-DMA are supportive of upside. That said, the index faces resistance at 3,150 and 3,240 levels.

State Bank of India (SBI): The stock is witnessing pressure around Rs 300 level, and