Be careful for next 2 months; keep cash aside to buy domestic cyclicals on dips: Sandip Sabharwal

“September will be the first month where the balance sheet reduction by the US Fed will become more aggressive. Right now, there is a $30-35 billion reduction every month. It will go up to around $95 billion of reduction per month from September. Monetary tightening combined with this sort of liquidity withdrawal together has never happened in the past. ”