Look at Astra Micro: Ambareesh Baliga

Ambareesh Baliga, market expert told CNBC-TV18, "I have been riding on the defence play but there again I believe that there will be a lot of Small and medium-sized enterprises (SMEs) unlisted SMEs which actually will benefit much more than the listed players but then yes we can play on the listed space. So, at this point of time I will surely not suggest buying any of these, one should wait for a correction."

"Astra Micro is one which I had picked up which is a pure defence play and then clearly I also played on Bharat Forge which I had recommend at levels of about Rs 250-260 levels. L&T by default is a defence play also so these are couple of the stocks where I had played. Also Pipavav Defence which anyway we got a good chance to exit at those high levels. At the same time logistics is one space where I got out a bit early although I had got into Gati at levels of about Rs 222-223 but then with the Rs 425 bagger I exited that stock," he said.