Pharma safe space: Sandip Sabharwal

Sandip Sabharwal of asksandipsabharwal.com told CNBC-TV18, "Pharmaceutical is a space where we have seen significant run up in some of the stocks. We see Sun Pharmaceutical Industries, Ranbaxy Laboratories and even Lupin haven’t behaved like typical defensives; they have also performed along with the market. However, in negative move of the market, they will not fall as much."

"My guess is that this could be a safe pocket but not for a big appreciation may be for stability," he said.

Disclosure: These stocks would be held by his family as well as the clients.