Investors in the stock market always prefer to invest in big companies. Because, the risk is low with stable returns here. People usually find shares of big banks and companies expensive in terms of price. For example, a share of State Bank of India is Rs 800 and HDFC Bank’s share price is more than Rs 1900. The special thing is that these shares have increased investors’ money by 4 times in the last 5 years. If you want to invest in the shares of a government bank, then we are going to tell you about the shares of 5 such big public sector banks, which cost less than Rs 50. Jain, head of equity technical research at Motilal Oswal Financial Services Limited, has identified major levels to buy these bank shares.
Central bank of india
The share price of this government bank is Rs 38. According to Ruchit Jain, the level of 34.60 is an important support level for this stock, if it breaks then the decline can be deepened. At the same time, the level of Rs 41.87 is a big resistance, because this bank shares have come down from this level again and again. If the stock closes above Rs 41.87, then good growth can be seen.
UCO Bank shares
UCO Bank shares are under declining trend. The current price of the stock is Rs 31.31 and the level of Rs 28 is a significant support. At the same time, there is a big resistance for 36.53 shares.
Shares of Bank of Maharashtra
This government bank’s share is also stuck in price consolidation. The current price of this stock is Rs 54.40. The level of Rs 49 is the major support for this stock, while the level above Rs 58 is the major resistance.
Indian Overseas Bank shares
This government bank shares have also been trading in a radius for some time. The current price of this stock is Rs 37.50 and according to Ruchit Jain, its support level is Rs 34. At the same time, it is facing resistance at a price of Rs 43.
Punjab Sindh Bank shares
Punjab shares of Sindh Bank are trading during the recession. The current price of this stock is Rs 31.43. The stock has strong support at the level of Rs 26 and the level of Rs 37 is the major resistance for this.
