Bank of Maharashtra Tests a Crucial Price Ceiling

has recovered well from the August consolidation, but the current zone is where the chart becomes more interesting because price is approaching an area where sellers have repeatedly appeared. The broader PSU banking space continues to benefit from improved asset quality, healthier balance sheets and stronger profitability compared with the previous credit cycle, but after a substantial rerating, price structure becomes increasingly important. The stock is currently around ₹85 and is testing the ₹85–86 supply zone, which has acted as a meaningful hurdle in recent weeks. Immediate support is visible around ₹82–83, while a broader structural support sits much lower near ₹73.5. The recent bounce has created a higher-low formation, but a clean breakout above ₹86 with follow-through is still needed before calling this a fresh leg higher. If ₹86 is crossed and sustained, the previous swing region around ₹92–96 becomes the next area to watch. On the other hand, repeated rejection from the current resistance and a break below ₹82 would suggest that the stock is still trapped inside a broader consolidation rather than beginning a new trend.