Sell ICICI Bank, target Rs 260: Manoj Murlidharan

Manoj Murlidharan of Religare Securities told CNBC-TV18, "We had a stellar rally almost 500 points odd but if you look at an Index it was not more than 2.5 percent buying or a long built up. Ideally, we have seen the buying interest come in the breadth of the market that is on specific stocks and not really on the Index." "Even yesterday, the foreign institutional investors (FIIs) cash buying versus the stock which I see is almost Rs 300 crore sell from the market, we are expecting even on the banking side there should be some Index management so called and we are expecting the Bank Nifty to come down possible 350-400 points, so it is a sell call here," he said."ICICI Bank would be a sell with a stop loss of Rs 292 to 294 and we expecting a target of Rs 260 on that."