Don’t expect market to go up with great force: Ashwani Gujral

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

ET Now: How impressive was the underlying price action?

Ashwani Gujral: The underlying price action was not impressive, because had this been a genuine pullback or a rally after a pullback, we would have made highs today itself. However, even at the close, the market retreated from 8160. I think we possibly need one more excursion towards 7900-7950 before we can take that level out with force.

Given the way we have traded on Friday and today, it does not seem like the market will go up with great force. Even stocks like ICICI Bank closed 25 points off the day’s high. The market looks more sideways than the one which is ready to make new highs.


ET Now: Take us through your top recommendations.

Ashwani Gujral: Shriram Transport Finance is a buy with a stop of Rs 965 and a target of Rs 1,025. Tata Motors DVR is a buy with a stop of Rs 370 and a target of Rs 395. Godrej Industries is a buy with a stop of Rs 326 and a target of Rs 345.