Buy HUL, Dabur, Cipla, Glenmark: CK Narayan

CK Narayan, MD at Growth Avenues told CNBC-TV18, "I would stick to the pharma and the fast-moving consumer goods (FMCG) space, that is the one showing the most amount of traction even on good days and bad days. So the tag of defensive is no longer applicable. In the last six months, Hindustan Unilever (HUL) has probably given 50 percent return. So I do not think you can talk about these stocks being defensives."

"Lupin and Wockhardt have been creating tremendous amount of wealth and they are showing extremely solid patterns on the charts. I would still be a buyer in HUL, I would be a buyer in Dabur, I would still buy Cipla, I would look to buy Glenmark Pharma may be even at this level," he said.