Ankit,
You have asked a very good question. To this lets start looking at the markets.
http://chartink.com/pointfigure/nifty.html Link: http://chartink.com/pointfigure/nifty.html
On the chart, Nifty is in the O column. It gave a SELL signal at 5500. From there on the markets started falling fast. Today it is at 5350. The next support is at 5250, 5050 and 4800. If the Nifty falls to these levels, you can imagine what damage can happen to individual stocks. There will be total FEAR and uncertainty in the markets. This looks a scary scenario. However, in such situations one gets opportunities. So my suggestion to you is, not to hurry and keep buying in a falling market. Let clarity emerge. It is better to BUY at higher levels where there is clarity and the trend is clear than in an uncertain market.
Next I will write on the Bank Nifty. I am doing my analysis on the Bullish Percent Chart for today and will most likely post the update tomorrow. However, in the mean time the Bank Nifty Bullish Percent Chart shows a reading of 0 (zero) which means extreme pessimism in the Sector. All stocks are in a SELL signal. No doubt, bank stocks are falling like nine pins.
More on this tomorrow.
Tony