If rupee restarts its weakening trend, equity markets will weaken too: Ashwani Gujral

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

ET Now: How would you be approaching the Bank Nifty and do you concur with Mitesh that at levels of 6200 you would look to sell?

Ashwani Gujral: We are closing below the 20-day moving average for the week on both Bank Nifty as well as Nifty. So as far as I am concerned a clear sell signal has emerged, now it is a tactical question that from 6080-6100 we have a bit of a pullback may be to about 6200-6250 and from there the final round of selling comes in and the top is in place.

I am interested in how the rupee progresses next week, if we continue to move lower and it restarts its weakening trend then you can be sure that sooner or later equity markets will also follow it down.