Markets have been in a free fall since the last two trading sessions with the S&P BSE Sensex and the Nifty50 slipping 3.5 per cent and 3.1 per cent, respectively.
The fall has been triggered by a sell-off in HDFC Bank stock, which has corrected almost 12 per cent to Rs 1,480 levels during this period.
Although Wednesday's market movement was mostly driven by banking stocks that have a weightage of around 35 per cent in the index, primarily HDFC Bank with approximately 14 per cent weightage, Sameet Chavan, technical analyst at Angel One suggests that it is advisable to