For bank Nifty, this seems to be a much needed pit stop. Immediate target seems to be ATH and then 55300. If it breaks the base that has been created after the last high, 51300 could act as a strong support. Does not seem like a sign of weakness. Next round could be lead by PSU banks, close to the Budget.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.