Positive global cues may lead next leg of rally: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his view on what lies ahead for the market.

ET Now: What is your call on the market?

Ashwani Gujral: The market has had a bit of breakout, but it is tough to say how long this will last. I think 8,230-8,250 remains the key zone, but clearly there are several stocks which are breaking out. There are several others, which like TCS are breaking down. So, the die is evenly cast.

The CNX IT is in a downtrend, but the CNX Bank is in a mild uptrend. I think if we can get some help globally, then chances are that the market could have the second leg of rally, which would take us to 8,350-8,400. For the moment, 8,100 is your stop and basically it is more about individual stocks than the indices.