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Nifty falling below 7500 levels should be seen as a buying opportunity: Ashwani Gujral

ET Now Aug 1, 2014, 04.05PM IST
("The idea should be that…)

In a chat with ET Now, Ashwani Gujral, Fund Manager,, shares his views on the markets.

ET Now: What is your call on the market right now?

Ashwani Gujral: Even if you take the rupee etc. out of the equation, the market is sideways and it was supposed to go to 7450 anyway. Now if Argentina takes it so be it but clearly the market is now in a sideways phase after many months of trending. So the idea should be that people should get ready to buy the moment we start hitting levels below 7500. That is the view till now. Let us see how much the global markets corrects. Chances are that we should not substantially break the 7400-7500 zone unless something different starts to happen in the next few days. The rupee should get to about 62.00-62.50. Chances are it will turnaround from there. So everything is kind of synchronised and we could again get to 7450 from where we have a 500 point rally back again. So this month is likely to remain week to subdued for a market.