Look at capital goods space: Nipun Mehta

Nipun Mehta of Blue Ocean Capital Advisors told CNBC-TV18, "Probably in capital goods space within the MNCs space you have seen too much of a runup. A lot of them are quoting at 100-150 times their historic earnings in the anticipation that there will be that spike that will come about sooner or later in the hope that execution is likely to happen. That is not showing up still in terms of actual numbers."

"Some of them could see a serious correction but very clearly if your time horizon is longer then you could see within both infra as well as the capital good space some degree of institutional interest coming in as when there is that line of turnaround that you see."