We extend our previous analytical modeling of the dynamic response of shock loaded piezoresistance gauges to the unloading region. We present a new approach in which we use the measured resistive hysteresis of manganin gauges to get their release stress‐strain characteristics. This procedure is especially suited for manganin gauges because their resistive response depends only on the stresses and strains which prevail in them. Other gauge materials which are sensitive to the temperature rise and/or shock generated defects would not lend themselves to this direct analysis. We present an example in which we calculate the unloading stress‐strain curve for manganin from a shock level of 120 kb down to zero longitudinal stress. Various aspects of this curve are discussed and compared to data obtained by other techniques.