Hemindra Hazari, Independent Market Expert told CNBC-TV18, "According to me, the places to hide are your traditional safe havens like fast-moving consumer goods (FMCG), pharma and IT. But even in those safe havens you will find that volume pressures will continue and they may disappoint the street."
"Even if they decline, I do not think they will decline as much as the cyclicals. So the economy is going to get worse. Even in pharma and IT also, there are concerns but again, there the safety margin is more than with the cyclicals as of this moment," he said.