PSU Bank Index

Wave 5 ended early for the PSU bank Index and some stocks like Andhra Bank show it more clearly, that a 5 wave decline is done. So we are going to retrace that 5 wave decline in wave B or X, as the case maybe. 38.2% of the fall is at 3300 on the index. There maybe more upside in PSU banks near term. A 5 wave decline however has bearish implications long term later.

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