Market open bearish Intraday calls today Bank stock under pressure

Market has started the trading session on a bearish note with positive bias.The RBI governor will announce the monetary policy during todays session.

The Nifty index has gained by 17 points at 6156 levels and sensex was higher by 52 points at 20664 mark.

Interest rate is sensitive because auto, bank and realty stocks are in focus further of the RBI mid quarter monetary policy review today.

HDFC, Reliance Industries, Bajaj Auto and BHEL gained between 1.5-2.5 percent followed by L&T, TCS and SBI with a 0.8 percent gain.

However, ITC, Tata Motors, Hindustan Unilever, ICICI Bank, Jindal Steel and Sesa Sterlite are under pressure.

Sell ICICI Bank with a target 1065 and a stop loss 1110

Buy ITC Ltd with a target 330 and a stop loss 310

Sell HDFC Bank Ltd with a target 635 and a stop loss 669