Nifty PSU Bank index has surged close to 8 per cent in last three sessions, setting five months high surpassing previous significant barrier. Technically, the current momentum indicates a rally to reach a new all-time high.
On Tuesday, Punjab National Bank and Bank of India both soared over 3 per cent, while Bank of Baroda and Canara Bank gained 2 per cent, respectively. Nifty PSU Bank index was seen trading robustly, up 1.81 per cent.
Technically charts of selective banks reveal a resilient momentum that could see new highs in the coming sessions.