Don't expect sustainable turnaround in GDP growth: Varun Goel, Karvy Private Wealth

In a chat with ET Now, Varun Goel, Karvy Private Wealth, shares his views on the market.

ET Now: Do you think it is a good time to book your profits?

Varun Goel: Any sustainable rally in the market will happen only when we have seen concrete signs of the revival of the investment cycle. Until the time we see investment cycle reviving, we do not see a sustainable turnaround as far as GDP growth is concerned.

As far as the market strategy is concerned, one has to really go bottom up. One has to go stock specific and sector specific at this point of time rather than looking at buying the overall market.

There are sectors like telecom, pharma, IT and FMCG where one can do incremental buying. I would not say that markets are peaked out and one should start booking profits but it would be advisable to be really choosy at this point of time in terms of what one is buying.