PSUBANKS have been correcting ever since 2011.
Deep corrections and inbetween fast retraces .
This is weekly chart which shows price movement in slanting channel.
On larger degree Wxy Correction is on W contains wxy of a smaller degree.Presently trading in Y leg of WXY correction (Sky blue) .
100 is a strong hurdle for this stock a good move is expected above 100 .Lower channel support comes at 50-55 .Can this fall towards 55 time will say right now look for 100 if that fails to cross look for lower levels to come.PSU banks move together.
Overall offlate PSU banks have been buzzing so thought to put a wave prospective.
