More steam left in Nifty; index may touch 8,500: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com shares his view on how the market may perform in the coming days.

ET Now: What is you view on Nifty?

Ashwani Gujral: I believe that Nifty still has about 100 points to gain in the ongoing upswing. Post the gains, it is possible that the index may retreat a couple of 100 points to 8,250-8,300. I would think of taking fresh position at those levels, but not right now. The momentum we are seeing suggests that there could be some correction.

Now whether the correction starts post 50-point or 100-point gains is something only time could tell. Possibly you will see first test 8,450-8,500 and then some sort of a cool off may happen. That may happen even if some good news like Greek deal happens.