Maruti Suzuki top pick from auto space: Gautam Trivedi

Gautam Trivedi, MD & CEO at Religare Capital Markets told CNBC-TV18, "The market has recovered and people who were super negative until ten days ago are starting to feel little better, but the reality is in the last five year bull run that we had between 2003 and 2007, there were about 7-8-10 percent or more correction. In fact within the first 16 months of that bull run, we had 27 percent correction. So the fact is that people got spooked by the first 10 percent correction and this is only first of the many that will come but the reality is we are in a minimum five year structural bull market led by the Modi government and the fact is if they are assuming to come back to power, the bull run could continue beyond that."

"The sectors that we like from a longer term perspective ignoring the short-term volatility would still be cement. We like the IT sector more from a rupee play and in passenger cars, Maruti Suzuki remains our top pick within the auto space," he said.