Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "The underperforming stocks which are breaking down could be good short candidates and we have identified Axis Bank and IDFC Bank. Axis Bank is a good short around levels of Rs 492-493, keep a stop loss at Rs 500 and look for a target of Rs 480 to begin with."
"IDFC Bank was a sell earlier as well, now it can be shorted a fresh with a stop loss at Rs 60.50 for target of Rs 54," he added.
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