Bit of a euphoric market; tighten stops and take half profits off: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, ashwanigujral.com shares his views on what needs to be done in the week ahead.

ET Now: Do you still feel that it might be wise to not be aggressively long and take some money off the table at these levels?

Ashwani Gujral: This rally is an eight to nine-week-old rally. In eight to nine weeks, we have covered 20%. If you expect another 10% at least, it is worthwhile entering. If you expect 200 points, it is not a great idea to be long right now.

The greatest momentum on the upside is closest to the lows. It is never closest to the highs. Today, the markets closed at all-time highs at 6200-6250 levels, which is a circus and this happens ones the markets are closer to their tops.

If you can take those last 200 points that is fine, but when the market goes back to 5600-5700 pre-election or even post election, you should not get into trouble. This is a bit of a euphoric market. Tightening stops or taking half your profits off would be a great idea.