A look at the Nifty Bank indicates that room till 49,000 has now opened up as the strong is given away, the bulls will attempt to rebound. The Nifty Bank is a sector that should be tracked. Once 49,000 is breached, there could be more pain extended with some stock-specific action. At the moment, there are divergent views being displayed across all the component stocks. PSU Banks or private banks are exhibiting bearishness, making it difficult for the Nifty Bank to recover. This, in turn, will spill over to other sectors such as auto, realty, and finance. Despite markets on Monday showing some signs of a recovery, the inability of the Nifty Bank to clear the 55,100 mark seems limited in this curtailed week. Till then, this index holds the key to some trends to recover.
