If 21,500 is broken, 20,800 is the next support level for Nifty; 2 stocks to buy now: Aditya Agarwala

economictimes.indiatimes.com:

Aditya Agarwala, Invest4edu, says: If markets have to sustain these levels, IT will have to chip in. So Infosys is a buy at current levels for a target of 1700 on the upside with a stop loss at 1610 on the downside. The second stock recommendation is MFSL. That too is looking decent for a short up-move, maybe a day trade or a two-day trade. So at current levels, I would initiate a buy for a target of 1,010 with a stop loss at 900 on the downside.

Many of the index stocks have gone below 200 EMA moving average. It’s too late to short though. But at what levels would you start buying? Do you think the structure of the market has changed for some time or it’s just a crack?
Aditya Agarwala: I believe markets are still making higher highs, higher lows.

So till the time we start making a lower high and a lower low, I would not call it a trend reversal yet. Yes, the trend can reach exhaustion level. I would not deny that.

We all knew that the moment the Nifty hit that 22,000 mark, correction was around the corner because we were sitting at overbought levels. No doubt about that.
On multiple time frame charts, the index has indicated that it is sitting at overbought levels.

And you can see a bit of correction profit booking on the index. Talking of specific levels on Nifty, we are very close to the 20 DMA mark, which has been acting as a stop-loss line for the Nifty from the time you started this move. So 21,600 is something which I am closely eyeing.