Flying high! SBI, BoB, Canara Bank poised for up to 18% rally, charts show

The Nifty PSU Bank index hit a fresh 52-week high on Friday and has gained 15 per cent so far this month. The index can rally another 4 per cent.

On Friday, the PSU bank index kicked-off the trading session by hitting a fresh 52-week high at 3,502, thus gainng as much as 15 per cent so far this month.

The PSU Banking shares are likely to remain in focus, with an additional Monetary Policy Committee (MPC) meet planned on November 3 (Thursday) followed by the scheduled review meet in December. 

The Reserve Bank of India (RBI) on Thursday announced an additional MPC meet to discuss its response to the government for failing to achieve its inflation mandate. According to the Monetary Policy Framework under the RBI Act, if