3700-3900 trading range for the mkt: ASK Raymond James

Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Mkts to quieten volatility; to trade in a range Long-term investors, stay invested: Deven Choksey Budget, Q3 results will be next triggers: Raamdeo Agrawal Is the current volatility enough to rock the boat? Inherent mkt weakness, distribution taking place: IL&FS ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

Mukarram Bhagat of ASK Raymond James says that the volatility in the market will continue.

 

Accoring to him, 3700 is a support and 3900 is the resistance level for the Nifty, and the markets will trade within this range, with intraday volatility.

 

He expects the market trend to move upwards in January, on the back of good quarterly results and budget expectations.

 

"When there is a lot of volatility usually that is succeeded by a breakout either a down breakout or an up breakout.If  I were to make a call, I would say that it could possibly go up because the January results should be quite good and whatever indications we are getting of budgetary moves I think they are positive. So there will be lot of enthusiasm about the budget and also the results by all indications so far including the advance tax figures. Looks like third quarter will be pretty good results season," comments Mukarram Bhagat.

 

He says that these two factors will lead to a break out on the upside for the markets.