More downside expected in Banking: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that some more downside is expected in banking stocks.

Sukhani told CNBC-TV18, "SBI is going to do what the Nifty is doing. Infact as we all know banks have been underperforming, so we would not be surprised if it goes back into three-digits below Rs 1,000 that would not at all be an unusual phenomena. I had explained earlier that stocks like SBI, ICICI Bank, HDFC Bank are now on the verge of making and they have now broken down from very large bearish patterns, so some more downside is expected and assumed."