PSU Banks wave analysis

PSU banks have been in downward channel for almost 8-9 years now.

We have witnessed many intermittent rallies inbetween followed by prolonged selling.

These stocks now looks nearing bottom or few would have already bottomed.

Lets look at few of the stocks .

orient bank 

The stock did 5 up and now inprocess of completing abc correction the stock looks to have almost completed its correction ,May stretch bit more ,I reckon this is good stock to buy for investment this diwali :).Buy and hold for 2 years.

union bank

The stock  has corrected in parallel channel and looks to be in process of bottoming out ,Levels of 65-50 looks quite juicy to jump in and buy .Can hold on for atleast a year to reap handsome gains.

PNB

  

The stock witnessed massive beating post neerav modi fiasco. Even after such beating the stock is holding on to supports ,Also maintained parallel channel ,The stock has strong support near 58-55 levels buy and hold for atleast a year to gain handsome gains.

Bank of India

This stock again maintaining parallel channel beautifully , 70-60 levels great to accumulate and hold on for atleast 1,2 years to gain handsome returns.

please see all these are investment picks ,So be carefull if someone plans to trade .Happy diwali to all readers .:)