Sell Axis Bank close to Rs 945: Murlidharan

Sell Axis Bank close to Rs 945, says Manoj Murlidharan Vayalar, Associate Vice President-Derivatives, IIFL PReMIA.

Murlidharan told CNBC-TV18, "We are selling banking stocks but very selective because the weakness has not really come into banks though it is IT and couple of other metal sectors. In banks we are selling Axis Bank somewhere close to Rs 945."
He further added, "The thing is we would actually need a stoploss on that, somewhere close to Rs 1010 because the target here what we have seen in Axis is quite steep. We are seeing actually Rs 820-840 on that. Now it is not necessary, it might come into the next four to eight odd sessions. But we would be maintaining a short call on that with Rs 945-960 on the range on the upside and we would wait for at least Rs 820-840 odd levels."