Subscribe to PRO at just Rs.33 per month. Use code SUPERPRO
Last Updated : Sep 26, 2016 10:07 PM IST | Source: CNBC-TV18

Time to go short; 8,500 on Nifty may trigger fresh buying: Pros

The chances of a market upturn may be minimal so Ashwani Gujral of ashwanigujral.com suggests investors can short at these levels.

The market is exhausted, says Ashwani Gujral of ashwanigujral.com in an interview to CNBC-TV18 in its Closing Bell segment. The Nifty today shed 108 points to close at 8,723, marginally short of its key resistance at 8,750.

If such a market starts seeing a downside with momentum, a big correction can be on the cards, Gujral adds.

As chances of an upturn seem slim, Ashwani suggests investors to go short at these levels. However, he believes there will be opportunity for fresh buying when Nifty touches 8,500, he says.

Sanjiv Bhasin of IIFL, says 8,400 is definitely on the cards for Nifty very soon. With crude prices down and US Federal Reserve maintaining rates, there is expected to be prolonged global weakness. Bhasin also suggests going short at current levels.

Watch video for more...
First Published on Sep 26, 2016 05:06 pm