Since you were able to cash out higher levels, I believe you can take a bit of risk. Try to analyse stocks and sectors which have outperformed their index in the last 6 months, for eg, Auto, Banks, Midcap IT, Cables and Wires, etc. If you are able to find out stocks which are at or just below their all time highs, then these stocks most probably are the future market leaders.
Also there are many sectors which are really good value buys like Large cap IT, D-mart, FMCG is always good, Diagnostic Players and API manufacturers. I guess these are really beaten down and are a good value buys.
I hope this helps.
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