Q4 results to trigger mkt upmove: PN Vijay

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Q4 results to trigger mkt upmove: PN Vijay

In an exclusive interview with CNBC-TV18, Portfolio Manager PN Vijay, spoke about his reading of the market and the road ahead.

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In an exclusive interview with CNBC-TV18, Portfolio Manager PN Vijay, spoke about his reading of the market and the road ahead.

Here is a verbatim transcript of the interview. Also watch the accompanying video.

Q: It has been a bit of a grind for the market, we are not falling; we are not going up, how much longer do you see the market trapped in a range?

A: Possibly till the results start coming in then we have the RBI policy. What is happening in the market I think is that right now there is a bit of liquidity crunch because of advance tax-corporate India has taken out about Rs 30,000 crore and the NMDC issue has taken out some Indian institutional money. So immediately there is lack of buying interest domestically and going forward we have this inflation number which is stubbornly close to 10%. So these are some immediate concerns.

People know that after the Budget, the market looks good but there is a lot of hesitancy. So we need some good news flow, probably something from abroad. But nearer home, probably the last quarter results would set the trigger. We may be getting in some range-bound trading for the next five to six sessions.