PSU BANKS 3rd wave examples (Elliottwave)

Hi friends,

                  A post after a very long time ,PSU banks are on a tear 3rd wave at play lets look at few charts,To figure out the move.

Lets see union bank chart 

The volume brust and relentless rally confirms 3rd wave characteristics ,(108-112) range can give resistance thats (1.61)of wave 1.Lets see how stock behaves there.

Lets check PNB 

This was mostly the laggard most of the time ,This time it took off 50 resistance ,68-70 range is good resistance point for stock..