The Nifty Bank remained in consolidation mode as it moved in the range of 47,363.40 - 46,886.95, intraday, before closing with minor losses at 47,019.70.
Nifty Bank index is anticipated to reach the short-term target of 48,000, with any dip viewed as a buying opportunity, said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
Volatility spiked and climbed above the 16 mark, which can create discomfort for the bulls in coming days. The India VIX, the fear index, rose 5.22 percent to 16.02 from 15.22 levels