Sudarshan Sukhani of s2analytics.com is of the view that one can buy L&T and HUL and sell Apollo Hospitals and Idea Cellular while one can avoid Dr Reddy's Labs.
"HUL also is likely to outperform when the next leg of this rally will come and that next leg will come whether it comes in a month or six weeks, or whenever," he said.
"There is also a short sell, Apollo Hospitals, which is very disappointing. The charts are suggesting that a significant correction which is already on-going, is likely to continue."
"Yesterday, Idea Cellular was a short sell and I think inspite of this decline, the chances are that any small rally can be sold into."
"Dr Reddy's Laboratories is a complete avoid. Pharmaceutical stocks are now out of control on the charts. So much news happens which we don’t understand. So, don’t do any bargain hunting."
"Biocon is in a different trajectory and it is a buying opportunity. The problem is that we assume that the news will not come in Biocon, just as it has in Divis Laboratories today. However, pharmaceutical generally is a less preferred sector," he added.