with strong numbers from ICICI, SBI and few other banks price must have given break out of channel on upside but its all due to RBI actions with Kotak and Draft policy etc created sell off... It looks like well-planned sell off with all big players selling. HDFC is at strong support. people who know whats going to happen next 3 months will keep selling or start buying at support. Bulls can be safe if support not broken. I do not have any positions in BN but some exposure to long side in Nifty.