The Banknifty fell down to 12020 level form its day high of 12375.We started selling from the opening and gained 150 points+ in intraday.The range bound trading was over powered by the bears and broken down and took support at 12000 level.The nifty also broken the 5934 & 5878 and huge selling seen during closing.

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The bank of china hiked the Reverse Repo by 50bps.Now our banking stocks is in falling phase and more selling pressure will be seen on the coming days.