Reliance Infra may see another down day: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on Reliance Infra.

ET Now: What is the call on Reliance Infra?

Ashwani Gujral: If Reliance Infra has enough margin given that it has rallied a lot and rest of the market was correcting while it was going up, chances are you could have another down day.

Now the take on this is that given that the first event has been an anti-climax, the market could decline maybe before the budget expecting populist measures and when those populist measures do not really come by, you could actually have a post-budget rally on a budget that probably does not deserve a rally.

So, I would look at today’s decline in that sense where now post this euphoric expectation, now the expectations become much more tempered going into the other 2 events. The chances are ADAG will correct for the next 2 or 3 days.