Still a bull mkt; buy FMCG, pharma, avoid banks: Experts

It's the fifth day of weakness for the market with the Nifty breaking below 7800. The market breadth too is weak at 1: 2 in favour of the declines.

But Sudarshan Sukhani of s2analytics says almost always before Diwali, the market gets shaken. Even short is not a good idea. He advises traders to just trade on Diwali day as a mahurat day and then get out of it. According to him, FMCG and pharma may be good bets, but it may be a good idea to stay away from banks.

Ajay Srivastava, chief executive officer, Dimensions Consulting, says it is not a good buying opportunity, though it continues to remain a bull market. He says MNCs are a safe place to be at this point.

Echoing Sukhani's sentiments, Parag Thakkar of HDFC Securities says from a long-term point of view, pharma may be a good macro call because of the depreciating rupee. So over time, if the correction continues, then the pharma sector definitely deserves a relook, he adds.