Nifty sees Double Top formation; Nifty Bank may head towards 38,500-38,000: Mehul Kothari

“When times are volatile; participation increases in defensive packs like FMCG. However, this time along with this trading psychology we have one leader who is dominating this pack and that is ITC. We have been constantly upbeat about ITC since the 210 level and we continue to remain bullish on the stock for the coming months too.”