Selective bullish phase: Rakshit Ranjan says markets to rise but cyclicals look risky

India’s Q2 earnings have strengthened market sentiment, but Marcellus Investment Managers’ Rakshit Ranjan says the next market rally will be selective, not broad-based. Autos, discretionary consumption, and healthcare look attractive, while cyclicals, banks and real estate face valuation risks. With GST cuts and a possible US–India trade deal, investors must focus on sector-specific opportunities.