To continue with the above thesis, mostly cuz fundamentally the business is on track…
The chart breached 3 month high, broke an important resistance of 1400, coupled with FII change of stance, makes the chart bullish.
Can this take the share price to all time high? Now it’s possible. This breakout, after a base formation seems fairly decisive. Icici, SbI are within 5% range of their all time highs.
FED hv hiked rates as expected, and have hinted no fear of recession. So, no bad news is expected.
Banks have had a good last couple of quarters, hence could be back in fovour.
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