The Nifty Financial Services Index, currently positioned at 21,604.50, has recently undergone a sharp rally, bringing it into close proximity to its resistance level of 21,700
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Traders can capitalise by selling the index and its constituents on any intermittent rise
There is more money to be made in PSBs as RoA expansion has peaked for private banks, analysts said
According to Ravi Nathani, an independent technical analyst, the Nifty Financial Service Index is currently trading near the higher end of the anticipated trading band of 19,100 - 19,650.
According to the technical analyst, traders should adopt a strategy of purchasing near support and selling near resistance for the Nifty financial services index
According to the technical analyst, the Nifty Private Bank, PSU Bank and Financial Services indices may extend the pullback in the near term.
On Friday, the government came up with an interim framework for resolving financial stress in financial service providers (FSPs) through a structured resolution and liquidation proceedings.
SBI, PNB, Bank of Baroda, Bajaj Finance, Indiabulls Housing, Manappuram Finance, DHFL, Bajaj Finserv and M&M Financial were up in the range of 2% to 5%.