Expect markets to peter off around 8100-8200 levels in muhurat session: Ashwani Gujral

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

ET Now: What are your thoughts on muhurat session tomorrow?

Ashwani Gujral: I do not think anything big happens at muhurat session. You can call it symbolic, auspicious but the smaller the stock the better they tend to do and generally, the market opens with great gusto but by the end of the day, generally profit booking comes in.

So I would at best ignore tomorrow’s session. What is clear from this market is that the institutional money is not back in any major way. That is the reason you gap up and then you become flat. You have several days where you have gaps in between. Now gaps are created through short covering so maybe short covering is happening but I do not think major flows are coming into the market and that will probably lead to the market petering off somewhere 8100-8200 thereabouts, so that people should keep in mind.