Traders can short ICICI Bank with a stoploss of Rs 905, says Shardul Kulkarni, Angel Broking.
Kulkarni told CNBC-TV18, "ICICI Bank has given you a strong run from Rs 640 to Rs 900 just wait for sometime. The stock may well move to Rs 800 after moving Rs 240 up move you are seeing that the stock may fall Rs 65-70 from the current levels. So yes, wait out for better opportunities. The traders who are looking out for 5-6 day positional calls can go short, on the upside stop loss is Rs 905.
He further added, "In case of the metal counters similar view is there - stocks have run up- Tata Steel stocks specifically Rs 332 to Rs 462 that particular move has already taken place. Wait for the next 6 to 8 sessions you will get better opportunities on the lower side."
Disclosure: We may have positions in the above stocks and we have recommended them to our clients.
