Sell Dabur India, says Jitendra Panda

Jitendra Panda of Capital First Securities told CNBC-TV18, "If one sees the pharma sectors, FIIs were holding on quite lot in this space. Now the valuations are stretched and their portfolios are incurring losses because of where the rupee is. There is some pressure and some selling happening. We are also seeing short build up. Hindustan Unilever (HUL) has already corrected but I believe Dabur India could see major selling there."

"At this level also one can sell Dabur India. I believe once more one will see those levels of Rs 137 because it has cracked below Rs 150 which was the support levels. I would see Rs 137-140 on Dabur, so that is where we should end up," he said.