This is a shallow market: Ashwani Gujral, Market Strategist
Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about the market.
Are there any trades that you would initiate considering that we are also approaching the weekend?
The problem is that if you have been lucky to short at 5820, you can hold on to your shorts. But may be trying to short right now and Monday morning again, you get some kind of a bounce back. So shorting at lows is probably not going to pay off because the global markets are not supportive, they are not crashing and also because we have already fallen a lot.
The PCR is around 0.9, so you get very sharp intraday pullbacks. Any news and you will be up 250 points on the Sensex . So yeah, you can may be short with half your quantity - if you do 1000, do 500. But overall, I would like to short only on sharp and swift intraday rallies because it is a light market, shallow market. The rallies will also be as sharp.
Are there any trades that you would initiate considering that we are also approaching the weekend?
The problem is that if you have been lucky to short at 5820, you can hold on to your shorts. But may be trying to short right now and Monday morning again, you get some kind of a bounce back. So shorting at lows is probably not going to pay off because the global markets are not supportive, they are not crashing and also because we have already fallen a lot.
The PCR is around 0.9, so you get very sharp intraday pullbacks. Any news and you will be up 250 points on the Sensex . So yeah, you can may be short with half your quantity - if you do 1000, do 500. But overall, I would like to short only on sharp and swift intraday rallies because it is a light market, shallow market. The rallies will also be as sharp.
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