Both pharmaceutical and IT sectors are showing positive movement on the back of a weak rupee.
Markets remain highly volatile. Depreciating rupee and the high levels of crude oil continue to exert pressure on the markets. 11,400 will remain crucial level for the week.
Technically, Nifty looks weak on the charts, Nifty Can slip to levels of 11250 and in worst case scenario Nifty can also give up 11,000. Remain bearish on Nifty and Nifty Bank.We have a positive view on Pharmaceutical and IT sectors on the back of weak rupee. Metals and Oil Marketing companies such as IOC, HPCL and BPCL look good. However, remain cautious to negative on banks and realty.