Nifty to not cross 7950 levels on global turmoil: Ashwani Gujral

In an interview with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on markets. Excerpts:

ET Now: 7780 is where we closed out in this week’s trade, what does that mean for the coming few sessions?

Ashwani Gujral: Unfortunately, the market does not know there is Diwali. As long as there is global turmoil, we should remain in some sort of a correction and during that time possibly we will have choppy actions. That is good for us because inherently our market is strong.

When the globe falls, we have to fall in sympathy but whenever the globe looks like it is looking for a pullback rally or it is trying to move higher, we will outperform on the upside. Earlier what used to happen was if the globe goes down 2% we used to go down 6%. That is not happening now. It is a big positive but as long as there is turmoil and all kinds of choppy action, I do not think we will do substantially better than 7950.