Chart check: Bias turns negative for HDFC Bank as stock dips below 200-DMA

The sharp fall in the last two-days has dented the charts of HDFC Bank, suggesting further downside amid some consolidation.

Equity markets have cracked heavily in the last two trading sessions, with benchmark indices sliding over 3 per cent, dragged by private banking majors - primarily HDFC Bank.

On Wednesday, the NSE Nifty 50 was down over 450 points or 2.1 per cent at close, while the Bank Nifty tumbled 4.3 per cent. HDFC Bank alone accounted to around 60 per cent of the day's loss on the Nifty 50, while collectively alongside ICICI Bank and Axis Bank the trio were responsible for near about two-third of the loss on the NSE benchmark.

Here's a quick chart check on