Benchmark indices continue to witness selling pressure tracking weak Asian markets along with metal and financial shares leading the decline.
Bank stocks have slipped across the board. Bank Nifty has dropped by nearly 2% down 168 points at 10,441.45. ICICI Bank, HDFC Bank, SBI and Axis Bank have slipped between 1-2%.
Devangshu Datta, speaking to Surabhi Roy says if support at 10450 breaks, the Bank Nifty could drop till 10300.
SmartInvestor: Markets have succumbed to selling pressure in trades today with Nifty slipping below 6,150 mark. What is your view on the benchmark index for the rest of the trading session?
Devangshu Datta: The support at 6100 may hold. On the upside, there's resistance at 6165. if 6100 breaks, the index could fall till 6050.
SmartInvestor: Metal stocks are in spotlight after weak Chinese data. How do you view this space? Would you like to recommend any stock to buy on dip from short term perspective?
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