TESTING TIMES FOR BANKING SECTOR

First Scam,then concern from RBI about NIM,(Net interest margin) in this two weeks banking sector has only negative news .In this period banks like AXISBANK came to good valuations.If you look weekly chart of this bank ,it was trading above it 20 days DMA from APRIL 2009,this is only second time it came to test its 50 days DMA.(chart below)

Most stocks corrected  with out any news ,because operators taking their hand seeing CBI & SEBI probe going on.