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Tuesday, March 15, 2011

Unlikely for markets to breakout of range soon: Ashwani Gujral

ET Now: One question which is puzzling everyone is that when will we really break the range on the upside or break the range on the downside. We on a well defined range the question is for how long?

Ashwani Gujral: It is uncertainty. It is unlikely that we will breakout of the range and this Japanese situation it will not be over say in the next 2 hours or next 2 days it will probably be a continuous type of situation and as things come into control given that we have held on through the crisis if things get better on that front that would be the time where stronger markets would tend to move even higher and given that now commodities are moving in our favour chances are if all this uncertainty on the nuclear issue gets resolved you will find yourself breaking out on the higher end of the range and I think Reliance could also probably trying to break that 1090-1100 probably the cue will come from Reliance in case that gets out of jail from this 200 point range.

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