 "IT and Pharma sector helped the Nifty to trim the losses")
Rallies should be utilized to Exit trading longs
Nifty fell for the fourth consecutive day to close at 11,174. In these four sessions, many stocks have witnessed huge selling and turned oversold on the short term charts. IT and Pharma sector helped the Nifty a lot to limit the losses. Nifty has violated the support of its 50 days EMA. The trend would be considered bearish unless Nifty closes above 11,450. Support for the Nifty is seen at 10,882.
Stock recommendations:
Sell Bosch Ltd (12,409) | Target: Rs 11,500 | Stop-loss: Rs 13,000
The stock has violated the support of its 200
