Manish Shah bearish on Axis Bank, ICICI Bank

Manish Shah, Head Technical Analyst, Fortune Financial Services is bearish on Axis Bank and ICICI Bank.

Shah told CNBC-TV18, "For Nifty stocks I would be more bearish at these levels in your big IT stocks as well as in your banking space. In banking space I am probably more bearish in private banks like Axis Bank, ICICI Bank and especially in smaller private sector banks like Yes Bank and IndusInd Bank, these stocks could come under pressure. But going forward I think the weakness is going to be more apparent in Nifty in banking and IT space."