No reason to be bullish if Nifty doesn't regain 8300: Gujral

Today has been a break from the downside of the market, says Ashwani Gujral of ahwanigujral.com. But today's sideways session does not mean the market is not going to witness futher declines. He says if the Nifty does not regain 8300 points, there is no reason to be bullish.Ashwani adds that 8,000 has been a very strong support for Nifty for several years now. But the way the bears pulled the market lower in the last stretch of day today clearly shows how weak the market is.The Nifty started 100 points higher than yesterday's close of 8108 points, retaining the high until an hour before market close when it saw sharp declines, ending at 8111.A breakdown is coming soon, says Mitesh Thacker of miteshthacker.com. He suggests making a stock specific shorting call in current conditions."It is a free run for the bears. The bulls are going to start losing money even beyond 8,000 points on Nifty," says Ashwani.However, contrary to other experts, SP Tulsian of sptulsian.com, says while things do look bad, the market has bottomed out and may start seeing an upside from next week.Watch video for more...