Range bound activity could continue for many weeks: Ashwani Gujral, Ashwanigujral.com

In a chat with ET Now, Ashwani Gujral of ashwanigujral.com, shares his views on markets.

ET Now: 7624 for the Nifty, it has been a great start, how do you think the next four days looks like?

Ashwani Gujral: I do not know what a great start means. You have not done even 1% on any index.

In any case, my view is that we are contracting, which means we are building strength, moving sideways. This rally is 100 more points but overall the range is narrowing so it is building strength for the next move whenever big announcements happen, because this market is not about Ukraine and Iraq, it is about policy.

Whenever there is some movement happening from the government, only then you will see those big thrusting moves, otherwise this range bound activity could continue for many weeks till happens. So basically, it is a weak rally. Some stocks will shine and that is where you basically look at.