Bank Nifty Plunges Below 59,000; HDFC, ICICI, IndusInd Shares Fall

• Bank Nifty fell below 59,000, marking its fourth consecutive session of decline.
• Major banks like IndusInd Bank, ICICI Bank, and HDFC Bank saw shares drop up to 1.5%.
• The Nifty Bank index closed at 58,823.40, down 0.32% on Monday.
• Technical analysts suggest consolidation, with resistance around 59,500-59,800 and support at 58,600-58,800.
• Ventura predicts potential for Bank Nifty to cross 60114 and reach 61050-63470 after a minor correction.

Why It Matters: Bank Nifty dropped below 59,000, driven by major bank stock declines, entering a consolidation phase.