Indian stocks have been one of the most resilient among emerging markets in the past year — and Goldman Sachs said equities will likely climb even higher in the coming months. India, the third largest economy in Asia, was the only emerging country in the region with a stock market that ended 2018 in positive territory. This year, the Nifty 50 index gained around 5.7 percent as of March 26. Goldman Sachs predicted in a report this month that the index could climb to 12,500 — or around 8.85 percent higher than current levels — this year.

Stocks to buy

Pre-election rally

India's general election is scheduled to start on April 11, and Prime Minister Narendra Modi's government is seeking a second term in office. In the last six election cycles, Moe said, investor sentiment typically improved before the vote and subsided three to four months after that. There could be several reasons behind that pre-election rally in India, the strategist said, citing supportive fiscal policies, or optimism over a potential decline in political uncertainties. "The point is that whatever causal factors you want to prescribe to it, the empirical reality is that the market historically has done pretty well in the lead-up to elections," said Moe.

WATCH: Why is India growing so fast?