Banknifty selling why

Why everyone bearish in banknifty

If markets are bearish everyone tell to buy if markets are bullish everyone tell to sell
You have to do what you feel correct.

With my limited knowledge, I think it is mainly because of the second wave of corona that has hit the country and lockdown. Bank is the only industry where the meter starts (income starts) accruing the moment the loan is disbursed. Hence people are worried that they could be more provisions and asset quality can deteriorate. it is the small retailers who are the worst affected and banks who have lent to them will be affected. Due to this overall sentiment, I feel, Bank nifty is bearish.