He further added that the US stock markets are showing signs of exhaustion and may soon see a downward trend. If Nifty extends its current upmove and goes to 7,700-7,800, then traders should exit their long positions, he added.
ICICI Bank: It may slip and retest Rs 180.
Tata Motors: The stock can extend upside movement till Rs 370.
ITC: Investors should book profit as Rs 330-Rs 340 is a good supply zone (resistance) for ITC.
Maruti Suzuki: The fall was overdone, so the current pullback will continue till Rs 3,900-4,000. The appreciation in yen is a problem for Maruti. There is a strong possibility that yen may appreciate up to 107/dollar, so that may push Maruti closer to Rs 2,900-Rs 2,800 levels. It will be a screaming buy at that level.
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