8060 level tough resistance to break: HDFC Securities

The earlier approachable Nifty level of 8060 is a huge resistance now, says VK Sharma, Head – Private Broking & Wealth Management at HDFC Securities. With US data expected tomorrow, Sharma says expected gross domestic product (GDP) will be revised from 2.3 percent to 3.2 percent, which will further vitiate the situation. He advises a put buying if Nifty regains 8060 level. Sharma told CNBC-TV18 that he is cautious on private sector banks like HDFC and ICICI Bank. He says he would wait to see how these stocks rise before investing into them. Watch video for more.