A break if 7250 is likely: Mitesh Thacker, miteshthacker.com

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, says private sector banks could correct slightly more and that could also put pressure on the Nifty

ET Now: What is your sense of the charts?

Mitesh Thacker: I have been calling for a test and possibly a break of 7250. I think 7330 is a minor support zone for the Nifty but I think it might hold for a day or two. I think eventually it will break and we should head towards a retest of 7250. It is very likely that we will break that and along with that a lot of stocks might also come down. We have talked about the Bank Nifty and the PSU banking lot being the weaker lot, I think there is some kind of signal that the private sector banks could correct slightly more and that could also put pressure on the Nifty.