Market upside to last for 2-3 weeks; take long positions: Gujral

The market surprised everyone today with a sharp rally. After weeks of downside, the bulls seem to have finally won the market, says Ashwani Gujral of ashwanigujral.com. This market upside may last for around 2-3 weeks. Traders should start taking long positions.For the next two trading sessions, the market will be in a constant uptick, says Mitesh Thacker of miteshthacker.com. Any dip can be bought into, he says.The market witnessed a strong pull-back today owing to short covering, ending at the high point of the week. The Nifty closed at 8,114 points, a rise of 148 points and Sensex ended 26,316 points higher at 456 points. The demonetisation may cause a decline in the Gross Domestic Product of India, but GDP is not linked to earnings of companies, says Anand Tandon of Independent Market Analysts. Worrying about the macros of our country is not useful, he adds.The market will show its true colors only after the US Federal Reserve meets next month, says Gujral. Till then investors should stick to the exporter stocks like pharma and IT to avoid any risk, he adds.Watch video for more...