HDFC, TCS and Reliance drives the market and all three posted results not expected over the weekend so a fall was expected but now Bank Nifty is at a crucial level and if it breaks this level we can see it going down till 30000 levels. I personally believe it will go down as PSU banks have broken multiple supports. SBI below 315 levels which is crucial, BOB below 95 levels, BOI below 67.5 major support. If you look at PVT Banks HDFC has support at around 1235 if it breaks this level expect BN to around 30000.
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IDX:NIFTY BANK 
Reputation: 318 • Jan 21, 2020 5:10 AM
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IDX:NIFTY BANK price when posted: 31,096.3