Are the Nifty PSU indices staring at up to 15% fall from current levels?

This particular technical indicator on the weekly charts suggests that the Nifty PSE, CPSE and PSU Bank indices could consolidate or dip in the near-term

Amid the recent decline in midcap and smallcap counters over the past three trading sessions, stocks of public sector undertakings (PSUs) have also faced a downturn, with the National Stock Exchange Nifty CPSE, Nifty PSE, the Nifty PSU Bank slipping by 2.6 per cent, 1.7 per cent, and 1.4 per cent, respectively.

In comparison, according to data, the Nifty Smallcap, Nifty Midcap, and the Nifty50 indices shed 3.1 per cent, 2.2 per cent, and 0.1 per cent, respectively, during this period.

Despite the fall, the key PSU indices are holding onto the crucial moving averages such as the 20-day moving