Sell ITC, buy Cipla: Kunal Saraogi

In a chat with ET Now, Kunal Saraogi, Technical Analyst, www.equityrush.com, talks about the outlook of the FMCG pack.

You have given a buy call on Cipla and you are not too bullish on the FMCG space and now you have got a sell call on ITC?

If you look at the FMCG pack, they were participating in the rally. They were doing well when the index was doing well too which was out of character for them, but that is what they did. This time around when the market starts to lose some ground, these stocks can go down. So, pharma is the best place to be in at the moment. Those stocks seem to be showing most strength on the charts.