Action will now shift to the broader market: Ashwani Gujral, Ashwanigujral.com

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on market outlook. Excerpts:

ET Now: How do you expect the next series to be?

Ashwani Gujral: In the large caps, we will be less volatile. There will be action in the broader market sectors—shipping, fertilizer, midcap IT—those kind of stocks. The market is likely to become range-bound—it should be between 5,500-6,100 levels. However, the action will now shift to the broader market.

We are trading in a fairly narrow range, so it is unlikely that this narrow range is able to stick the 5,800-5,950 levels for a long time. Chances are whenever that breaks, you get 150-200 point move in the direction of the breakout.

Given the momentum that we have seen today in F&O stocks and large cap stocks, it seems unlikely that the large caps will really capture attention.