Risk reward not in favour of investors, so wait & watch: Experts

India equity benchmark on Thursday rallied led by Bank Nifty. The European markets too were trading in the green. The Bank Nifty was at new 17 months high but the IT index was a drag.Dipan Mehta, Member BSE & NSE believes that the market and stocks have been flying and it is time to wait and watch. The risk reward is currently not in favour of investors, so buy on dips, says Mehta in an interview to CNBC-TV18. The challenge in the current times is to buy stocks with reasonable valuations, he says.The market by end of closing was in the firm grip of the bulls. The Sensex was up 118.07 points or 0.4 percent at 28123.44 and the Nifty was up 49.20 points or 0.6 percent at 8673.25. About 1667 shares have advanced, 1032 shares declined, and 178 shares are unchanged.According to Ashwani Gujral of ashwanigujral.com with IT continuing to slip, it may not let Nifty break above 8700.When asked who do they think is a strong contender to  be the  next RBI governor - Subir Gokarn or Urjit Patel, Mehta said if Gokarn is elected then market would take it more positively. Gujral says it is unlikely to make much difference to the market because if the exit of governor did not impact market then an appointment of an governor too would not make an impact.While SP Tulsian of sptulsian.com wants a new face as an RBI governor because, according to him, the central bank needs a person who can lead a team.Speaking on whether to subscribe to the RBL Bank IPO that will open tomorrow, Tulsian thinks it is a subscribe because the banks has grown at a consistent pace on all fronts. It will not only give listing gains but will give huge returns if one were to invest from a 6-12 months timeframe.Prakash Diwan of prakashdiwan.in is also in favour of subscribing to the IPO. He says it is a neat and tidy bank and the price band is also not too steep. It is sure to give gains on listing, says Diwan.Experts also shared their views on stocks and sectors.For the entire discussion, watch video.