We need something significant to move forward: Ashwani Gujral

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

ET Now: Expiry tomorrow, you do not attach too much importance I know but how would you approach trade per se because the index has gone nowhere technically if you just look at the headline numbers at close?

Ashwani Gujral: What has picked up today is the selling in the exporters and the way we have constructed our markets, there are two clear halves. If fund flow comes in and rupee goes up, then financials do well, oil and gas does well. If rupee goes down, the exporters do poorly. So there will be time when exporters and the domestic cyclicals will balance out each other and we are heading into one such period. No news flow and the market just doing up and down on certain days, exporters will overpower domestics, on some days domestics will overpower exporters. So that is how this market is likely to trade. So pretty much day to day and choppiness should prevail. Meanwhile midcaps will continue to do their catch up but we need some significant news now to move forward. Just going by election results, it is getting to basically where it should be within 100-150 points of that.