Expect market to remain sideways for some time: Ashwani Gujral

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

ET Now: Tomorrow is off, what is the call for Friday’s session?

Ashwani Gujral: We went down first for 12 sessions. Now we have gone up for the last four sessions, so basically this is a market which is either going short, either cutting longs or cutting shorts.

I do not think great amount of change has happened in whatever action has happened in the last 15 odd days but clearly the market is now at equilibrium, which is the mid point between the 5500-6100 kind of zone.

Either we get past this zone and the market maintains its range of about 5500 to 6100 or this is make or break that we turn from here and we start going towards 5500 and hopefully break it this time. So market still quite sideways, it is difficult to say that where Friday will go.

It depends a lot on what measures are announced and where the rupee goes from here because I do not think the government can keep announcing things everyday and we need to see once everything is behind us, then what happens on the currency.