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    Stocks having more headroom are moving up: Ashwani Gujral

    Synopsis

    " You were in a range of 7450 to 7850. Add 400 points to that and you get 8250. So that is the next port of call."

    ET Now
    In a chat with ET Now, Ashwani Gujral, Fund Manager at Ashwanigujral.com, shares his views on the market. Excerpts:

    ET Now: We have closed above 8000 on decent volumes. What does today’s market action indicate and now that the Nifty has closed above 8000, what is your next port of call for the Nifty?

    Ashwani Gujral: You were in a range of 7450 to 7850. Add 400 points to that and you get 8250. So that is the next port of call. But these are all milestones, because in a bull market, you will continuously make new highs. What is important is that we were in a very narrow range for the last 8-10 sessions and from there we have achieved a breakout. Cyclicals are performing. So stocks which have more headroom are moving up. This coal issue was an overhang because everything, that was policy sensitive, has started to move up. Hence, more up-moves are possible now.

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