Weak hands out of the market; nobody cares about Greece: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his view on how the market may perform in the days to come.

ET Now: What is you view on Nifty?

Ashwani Gujral: On Wednesday, the market got tested, when a bad news comes in. The bears tried to take the market down. But the markets made a comeback on Thursday. It basically sends out a message that it is not the news which matters, what matters is the hands which are in the market.

There are no weak hands right now. The weak hands got kicked out on Wednesday. Now, strong hands are in and they are not worried about Greece.

Had it been 9,000 on Nifty, weak hands would have sold and you would have witnessed panic selling all the way to 8,600 in three days. But, at present, I do not think that kind of a situation is likely to play out.

As we go up slowly, theories such as ‘the market does not deserve to be here’ will get out of the window. When good news actually comes in, we will be at 9,200 rather than 8,300. This is a time to buy given that 7,950-8,000 seems like a base. It is sustaining as well.