Indian economy is likely to pick up and a more diversified approach might be the best way to go forward rather than taking an extreme position, said Tushar Pradhan, CIO of HSBC Global Asset Management.

Things are better at private sector corporate lenders but there are other issues which do not appear as if that the clouds are going to clear very soon, said Pradhan.

On sector front, Pradhan said the company is much focused on bottom-up stories and wherever the earnings are strong and visible that is where they are positioned.