For the last few years PSU bank index moved in tandem with SBI.
SBI raises - PSU Bank Index raises
SBI Falls - PSU Bank Index falls.
While PSU bank Index fallen 500 points (14%) from March 2019
SBI has just fallen 20 points (6%) from March 2019
Even though BankNifty is beaten down SBI is standing tall. Expecting a good move in SBI after election.
In this dance of nifty - 11108 - is an crucial level. Closing below this will give bears upper hand and will take nifty to 10600 levels.
For bulls to take control of the market it should close above 11320 levels.
Lets wait and watch!