Maruti Suzuki has support at Rs 1060-1070: Sharma

Sharma told CNBC-TV18, "Till today ICICI Bank and Axis Bank were looking quite good. But part of the fall in ICICI Bank is because of the Rs 16 dividend but even if one add that back still it is looking shaky below the Rs 795 level. One would not be betting on ICICI at the moment. Even Axis Bank falls in that weak category. Maybe if one has to be positive on the banking sector either one should look at positions in SBI or HDFC Bank ."

He further added, "Maruti Suzuki India has got very good support at Rs 1060-1070 levels, so expect either today or tomorrow those levels might be tested. It will survive for time being and make a temporary bottom there. But something like Tata Motors has been a major disappointment after really outperforming it has fallen even below a strong Rs 240 support level so there one should only look for any positive trade once it crosses the Rs 240 level."