Rohit Srivastava believes that the market is not in an uptrend and investors need to be cautious. The Bank Nifty remains in consolidation and the overall trend has turned down. Every bounce is seen as a selling opportunity. There is a possibility of testing 21,500 before heading down again. Investors should consider cutting profits in PSU stocks, smallcap, and microcaps. Pharma is a strong sector, but IT may face challenges due to the global economic slowdown.