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Bank Nifty EOD Update Mar 2

Bank Nifty opened 100 points Gap Up but sharply corrected almost 400 points from today's high. High made today was 20905 and low made was 20516.
It looks like today's down move is minor wave c of wave(B). Wave(B) is in progress or may have completed at today's low of 20516. Hourly RSI is near oversold zone of 30(34). If wave (B) is completed then Bank Nifty should move up sharply in wave (C).

On Daily chart, RSI broke the support level of 65 and that opens the possibility of further downfall. Breaking 20400 may result into some other pattern and may result into further downfall.
A decisive move above 21100 or below 20400 will decide the future trend for Bank Nifty.
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