CENTRAL BANK OF INDIA | TECHNO-FUNDA ANALYSIS

Central Bank of India -1D

Trend: Central Bank is trading in a sideways-to-bullish zone, forming a base around strong demand levels near ₹36. The recent breakout attempt above ₹38.7 with volume suggests accumulation and potential upside continuation. Key Levels- Immediate Support: ₹37.03 Strong Support: ₹36.07 Major Demand Zone: ₹34.31–₹32.70 Resistance Levels: ₹40.91 / ₹45.23 Fundamentals (Key Points): 🏦 PSU bank showing strong recovery in profitability and asset quality. 📈 Consistent quarterly growth in advances and NIM expansion. 💰 Improving CASA ratio and capital adequacy strengthen financial base. 📊 Government reforms aid sector-wide rerating of PSU banks. ⚠️ Needs follow-up buying above ₹39–₹40 for clear breakout confirmation. Final Verdict: Positive Bias — Accumulation phase with bullish intent; breakout above ₹40.9 can open targets toward ₹45–₹47.