Nifty may trade in 8,500-9,000 zone: Ashwani Gujral
Gujral believes that Nifty may not touch 9,000 mark in a hurry. He is of view that the market will turn rangebound. He sees Nifty between 8,500 and 9,000 levels.
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In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on how markets may behave today.
ET Now: What is your call on markets?
Ashwani Gujral: The market reaction on Wednesday surprised us. It is suggesting that the Nifty may not touch 9,000 mark in a hurry. Possibly, we are still rangebound between 8,500 and 9,000 levels. It is not a good news. It is the reaction to the good news which is troubling. If this would have happened at 8,500 levels, Nifty would have closed at its high. Having said this, given that a rate cut was getting priced in since the Economic Survey chances, we did not sustain the highs post the rate cut.
ET Now: What is your call on markets?
Ashwani Gujral: The market reaction on Wednesday surprised us. It is suggesting that the Nifty may not touch 9,000 mark in a hurry. Possibly, we are still rangebound between 8,500 and 9,000 levels. It is not a good news. It is the reaction to the good news which is troubling. If this would have happened at 8,500 levels, Nifty would have closed at its high. Having said this, given that a rate cut was getting priced in since the Economic Survey chances, we did not sustain the highs post the rate cut.
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