Brokers` outlook: Nifty may fall below 3,800.

Alex Mathew, head - research centre, Geojit Financial Services said, ``We had seen a choppy session with Nifty ending in red at 4,039.7, losing 0.23%. The culprits for the fall today were IT counters of which Infosys, Satyam, TCS and Wipro faced heavy bull liquidation due to fear of slow down in these sectors. The situation was further dampened after the forex losses revealed by the company. This sector may face some more selling before consolidation.

The beaten down Banking sector stocks were in good demand in the weak market. Sentiment was further improved on the good quarterly numbers of Axis Bank. Private sector banks, which have already increased the lending ratio by 0.5% to 0.75%, were also supporting the uptrend.

Fall in crude, after the Iran oil well finding, helped the auto sector stock like M&M, Maruti and Tata Motors to witness good demand.

Nifty is struggling to stay above 4,000 levels. If it moves down we can expect further downtrend which will even bring down the Nifty below 3,800.
Source: - myiris.com