See Nifty 7200 if Fed hikes; 8000 if it doesn't: Expert

With the global turmoil continuing to envelop equities, all eyes are on what the US Federal Reserve will do at its monetary policy meeting two weeks away, says Mehraboon Irani of Nirmal Bang Securities."If the Fed does hike interest rates, which I don't think it will, the Nifty could fall to 7,200. Otherwise, I see it rising to 8,000 levels," he said, while maintaining that right now, it wasn't a "time to be adventurous"."Whenever the next down leg comes, it will be time to deploy your money in select largecap stocks," he said. "The damage on midcap or smallcap stocks is yet to be done."Discussing sector picks, R Sreesankar of Prabhudas Lilladher said he was positive on private sector banks, select automobiles while oil marketing companies made for a good trade.Please watch video for the full interview.