Don't buy capital goods space, says Ajay Srivastava

Ajay Srivastava, CEO of Dimensions Consulting told CNBC-TV18, "You do not buy capital goods sector. The demand is contracting. There is no reason for anyone to put up a factory in this country. Capital goods sector still has long way for traction to come back, for earnings to come back and the growth to happen."

He further added, "You need to climb up early, but I think that early climb is going to be sometimes maybe at the end of this year, early next year, but certainly not in the next six months."