 "Sectors like IT and Pharma could outperform in the existing pullback")
UTILIZE RALLIES TO REDUCE TRADING LONGS IN NIFTY AND BANKNIFTY
Nifty managed to hold above the low of 13,131, which was registered on December 21, 2020, and ended up forming a "Harami" candlestick on the daily charts on Tuesday. In case of such formations, movement of the following day depends on which direction market opens. Probability of trend remaining in the direction where markets open remains high after "Harami" candle formation. The recent recovery seems more like a dead cat bounce which could last for some more time but it would be advisable to remain cautious at higher levels. Nifty has
