Buy or Sell | Expect pull back rally on Nifty above 10,270

Moneycontrol News

Bulls regained control of the market after reel under pressure from the weakening rupee, global cues and FII sell-off. The Nifty ended above the 10,250 level on October 29, and once it manages to cross 10,270, we can expect a pullback rally that can push the index to 10,500 levels. However, it is better to remain cautious on the index and avoid extremely long positions.

Sector-wise, see weak trend in FMCG, IT and Pharma. Swait Hotkar, Technical Analyst at Nirmal Bang, recommends 'sell' on Aurobindo Pharma and HDFC Bank.

Auro Pharma I Sell I Target Rs 650 I Stop Loss  Rs 740