Last month I noted that PSU banks could bounce and wrote about only Canara but could have covered more ground, was not too sure of the size of the moves. In some cases they are larger A-B-C as in Allahabad bank. Where C is a 5 wave rise. Here 5 waves are still not complete so a few more ups and downs are possible. 61.26 is 50% retracement and 67.65 is 61.8% of the last sell off. Both levels are open. Once wave v of C is complete we will get the next move lower. A few more up and down moves appear pending here wave wise.