Oct 04, 2016 06:32 PM IST | Source: CNBC-TV18

Nifty near 8,850 looks challenging; may witness selling: Ashwani

The Nifty and Sensex both ended higher than yesterday's close at 8,769 and 28,334 respectively.

The Nifty reacted positively to Reserve Bank of India's rate cut by 25 basis points today, but it did not welcome it with a lot of excitement, says Aswani Gujral of ashwanigujral.com. He expected Nifty to rise by at least 100 points.

The outcome would have been worse if there was any bad news from the policy meet, he adds.

The Nifty and Sensex both ended higher than yesterday's close at 8,769 and 28,334 respectively.

Gujral does not feel the market will cross the 9,000 mark any time soon. Levels near 8,850 points look challenging and may witness selling.

Mitesh Thacker of miteshthacker.com says investors should go long under current market conditions.

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