Markets to turn choppy in near future, caution advised: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com shares his market outlook. Excerpts:

ET Now: I am guessing your recommendation is to still stay long for the next one or next couple of days?

Ashwani Gujral: I do not want to claim credit where it is not due. On Friday, I just said that the decline may not continue. So anybody who got in on Friday probably overtraded. The entry was today when it gapped up 50-60 points and held on to that gap. So now if you have entered today, that is the right trade.

Even if you entered on Friday, you should now basically use today’s low as your stop which means 6035-6040 should be your stop and just try to get whatever you can over the next three to four sessions and then stand aside and see because chances are it will get extremely choppy, there will be lots of election news flow, other types of news flow, FED, RBI. So things are going to be difficult. So try to stay out of trouble instead of taking large views.