Time to buy every time the market declines: Ashwani Gujral

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

ET Now: It has been a couple of days wherein there has not been massive pullbacks, but we have lost about 0.5%, 2% today as well and two or three very key results lined up, TCS today, Reliance on a holiday tomorrow. How do you place yourself on the index for the next two or three days?

Ashwani Gujral: What you should not do is become excessively short and the problem would be that the market suddenly turns around and Rs 1,500 crore come in.

The idea should be for people, who are not traders or who are not looking at charts or levels, to slowly buy into this correction and by the time it turns, chances are that you will be already invested. So the next 50-100 points, whatever is there, try to buy 10% on every decline and maybe you will be 50% in by the time the market starts turning.

Once it turns, you can quickly buy the rest. That is one strategy for non-traders. For traders, we are fairly close to strong supports, I mean in an index which is at 6000 plus, 50-100 points you cannot time. So you are probably in the last 100 points of the correction hopefully.

Even on the banks, last 100-150-200 points. So the idea should be to look for the turn instead of being short and being the last one to short, and then the market just turns and makes a new high and you get stuck.