Sanjiv Bhasin, IIFL said that pharma would be our top pick for 2019.

He said, “On the broader market, we are very bullish on three sectors- insurance, pharma and power. We think that another 100 points on the Nifty, 10,400 will take out a lot of steam which is there and over leveraged. We should be looking at the broader market and that we will get to by the end of this week.”

He also added further, “We are getting light on IT, for us it is pharma which we want to play on the weak rupee. We are extremely over weight on pharma.”

Talking about consumer stocks, Sanjiv Bhasin said, “The fall is coming in these stocks, I have not seen Hindustan Unilever correct 7-8 percent in three days in a long time. It is telling you that the smarter money is getting out of these outperforming stocks which were very expensive and it wants to buy the broader market."

"I am extremely bullish on the broader market and by this weekend the dust will settle down. This will be the opportunity you have been waiting for. So, leave aside the Nifty because there will be too many heavy weights there whether it is a lever or the Dabur’s of the world but we still think in this FMCG basket if you want to be in that then ITC, Nestle, Dabur and maybe a Page Industries. These 4-5 stocks you will have to include because there is exceptional growth and these have been outperformers. We have been very bullish on ITC at Rs 265. We will use any correction to buy and that would be the best name going forward, he added.