Market will hit bottom before earnings season kicks in: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his view on the market. He also talks about Blue Dart, a logistics stock.

ET Now: How do you map the day’s trade? I also want to know your view on Blue Dart which surged significantly on Monday. I believe, it has been a portfolio recommendation a number of times.

Ashwani Gujral: As far as the market is concerned, the correction is just getting deeper. We have seen what happened with the stocks of Amtek or Supreme Infra on Monday. So anything that is shady and which has gone up quite a bit, is going to go under the hammer now.

It is because of the fact that with the Nifty falling below 8,500, I do not think the market will have any mercy for any sort of stories. I would expect some sort of pullback from 8,500, but once that pullback is over, 8,150-8,200 is pretty much should tested.

There are higher chances that the market will make a bottom before the forthcoming earnings season . So whatever needs to be discounted, will get priced in before the results kicks in. So, by 7th to 10th of April, chances are higher that you will see the market lows.

After that whatever good news comes in, will get suitably rewarded. As far as Blue Dart is concerned, we you are really looking it at Rs 9,000-9,500. Nothing seems to bother these sort of stocks.