The Nifty's break below 8,600 does not augur well for domestic markets, traders say. According to Imtiyaz Qureshi, co-founder & director of Investeria Financial Services, markets can correct further if the Nifty slips below 8,580. Investors should go short on Nifty if it breaks 8,580 with stop loss at 8,640 for target of 8,518-8,480, he added.
Stock Talk
Buy BHEL: The stock is looking positive on charts. Buy BHEL on dips with stop loss at Rs 128 for target of Rs 190-200.
Sell Axis Bank: The stock has rallied sharply from levels of Rs 400, so some profit booking is likely. Go short on Axis Bank below Rs 580 with stop loss at Rs 594 for target of Rs 540-550.
Sell Vedanta: If this stock breaks Rs 168 on the downside, then investors can go short for target of Rs 140.
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