ADAG Group is showing some strength: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks about current markets trend.

ET Now: What is your sense admittedly it has been a very volatile week with Monday, Tuesday and Wednesday showing very varying trends how do you trade now if you were to initiate trades on the index what kind of trades would you do?

Ashwani Gujral: Well a) we are still in a range but we are kind of maintaining more above 5500 then we are maintaining below 5400. So if you must have a bias, the bias remains on the upside. We are above all key supports on all time frames daily, weekly, monthly. Yes, till this up and down on the news flow continues on the nuclear side you would likely to be in a range but chances are at some point we will probably brake out because given the way banks are moving, given the strength Reliance is showing. ADAG Group is now reasonably showing some strength. The chances are more on the upside but clearly upside will be confirmed only on a closing above 5550 so till then we are still in a range.