Market may remain sideways ahead of Greek referendum; expect rally to resume from Monday onwards: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his view on the market may perform in the sessions to come.

ET Now: It has been a pause of sorts for the large caps but the midcaps and the small caps have not done too badly, what would your trading strategy be for tomorrow which is the last day of the week and for the near term?

Ashwani Gujral: I do not think, Greece issues will matter much. If Greece had to matter, Nifty would not be 250 points higher than where it was on Monday. So, even if there is an unfavourable outcome, you would see a maximum of 50-point gap down opening on Monday and an immediate recovery thereafter.

As we are inching closer to a major event, there may be sideways movement. Post July 5 — the day of Greek referendum — we should start moving higher. The texture of the market says that it wants to go higher. The market looks technically strong and has the ability to absorb bad news. May be Friday will be a session of sideways momevent, but rally could resume from Monday onwards.