Nifty to trade in 8,300-8,550 range: Ashwani Gujral

In a chat with ET now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his view on where the market is headed towards.

ET Now: Tuesday was a lackluster day foe the market. What happens over the course of the next few days?

Ashwani Gujral: It is clear that the market is waiting for some big news that can take Nifty either side of 8,300-8,550 range. While the largecap indices are sideways, the Nifty Junior is hardly about 100 points from its all-time high level. So, action remains restricted to the mid, smallcap spaces. That said, in case we are able to get some spark in the numbers, only then we can get past 8,550-8,600 levels on the index.
Expectations from the earnings season are extremely low so far.
With the given momentum, it looks very difficult to think of any progress on the upside because the big sectors are not moving. And the stocks that are moving higher cannot really take the market higher. For the moment, it remains 8300-8550 range for the market.