The current expectations of a substantial correction in equity prices are not a good reason for you to change your asset allocation; you need to know how asset prices behave across cycles, the asset risk, and the long-term return expectation.

Goldman Sachs thinks "the structural positive case for India remains intact, economic growth is cyclically slowing down across many pockets."

Experts recommend maintaining a well-diversified portfolio that balances gold and equities, with an allocation to gold that ranges between 5 percent to 15 percent.