Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd., mentioned that Bank Nifty had experienced a breakdown below its key psychological level of 52,000 and was trading below the 20-DMA. He explained that it had slipped under the 51,150 mark, where 50,600 served as immediate support. On the upside, 52,000 was now the immediate hurdle, with 52,500 as a key obstacle. Gour added that it might continue to trade sideways with a negative bias until it crosses the 52,000 level.
Bank Nifty extends fall for 2nd day; SBI, HDFC, Axis, ICICI Bank down up to 2% - Fortune India
