Look at capital good space, says Ambareesh Baliga

Ambareesh Baliga, Independent Market Expert told CNBC-TV18, "I will not buy anything in the first hour of trade even tomorrow. In the next couple of days again it would be the PSU banks assuming that we have a 25 basis points rate cut or higher. I would still be looking into the capital good space where again we have seen a very decent correction especially Larsen & Toubro (L&T) and BHEL.""I am looking at the India story and if you have noticed the sort of statements made by Narendra Modi during his recent trip. One of the important ones is that world will not wait for India. This clearly shows that there is a need for that hurrying up of the reforms which is clearly felt by the government and that I think over the next couple of months you will actually see lot of things happening at the ground level which you are not seeing in the last 12-14 months. So, that itself should be enough to take the markets higher," he said.