Nifty needs to close above 7314 to gain upside momentum: Ashwani Gujral
On the Nifty for the moment we need to cross 7314 on a closing basis and on the Bank Nifty we need to close above 15168 both cash levels to get any sort of strength.
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In a chat with Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on trading.
ET Now: While the market breadth may have improved a bit from what it was at around 10 or 11 am it certainly looks like bears have had their hand today as well?
Ashwani Gujral: Today is a more difficult day to trade because the market range is not all that much but it is clear that the upside momentum is lacking. On the Nifty for the moment we need to cross 7314 on a closing basis and on the Bank Nifty we need to close above 15168 both cash levels to get any sort of strength till then this mild sideways to down should continue.
ET Now: While the market breadth may have improved a bit from what it was at around 10 or 11 am it certainly looks like bears have had their hand today as well?
Ashwani Gujral: Today is a more difficult day to trade because the market range is not all that much but it is clear that the upside momentum is lacking. On the Nifty for the moment we need to cross 7314 on a closing basis and on the Bank Nifty we need to close above 15168 both cash levels to get any sort of strength till then this mild sideways to down should continue.
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