Bank Nifty crashes over 3%, PSU banks lead losses: When to buy financial stocks?

• Bank Nifty index crashed over 3% on March 23 due to fears of higher crude prices, increased borrowing costs, and compressed treasury gains.
• PSU banks like Union Bank of India, Canara Bank, and Punjab National Bank led losses, falling 4.3%-4.7%.
• HDFC Bank fell 2.5% after a 7.4% slide in two sessions following part-time chairman Atanu Chakraborty's resignation.
• State Bank of India shares dropped 3% after receiving a Rs 6,337-crore tax demand from the Income Tax Department.
• Analysts suggest a sustained close above 54,000 for Bank Nifty could signal recovery, while failure to reclaim it may continue corrective pressure.