The technical set-up for Bank Nifty is weak /negative & it will most likely break the support at 18,000 & move down to touch the next support available at 17,000. This will drag not only banking stocks but the broader market as well. You will see a collateral damage in IDFC Bank & other bank stocks also. Expect the price of IDFC Bank to go down from current Rs.60 level to about Rs.50 in the coming days & weeks. Sell on rallies to 65-67.

By Sh G R Chari