Q2 Impact: SBI, BoB may see another 25% upside, UCO Bank 50%, hint charts

SBI hit life-time high, while Bank of Baroda registered a new 52-week high in trades on Monday after the banks reported strong Q2 earnings over the weekend. Here's what the charts indicate ahead.

In the recent past, the The PSU Bank index began to outperform the benchmark indices, backed by strong Q2 earnings by the enlisted state-run banks. On Monday, the Nifty PSU Bank index recorded a new historic peak at 3,731, up 5.50 per cent. The index has surged 47 per cent so far in this calendar year. 

In comparison, the domestic benchmark indices, the BSE Sensex and Nifty 50 are yet to claim their respective historic peaks, and were seen trading shy by 2 -2.50 per cent. Both the key indices have rallied 19.50 per cent from their respective 52-week lows