Technical Analyst Ashwani Gujral expects the market to trade in a range of 4,250-4,450 till the budget. "I do not think the market has enough legs to take out 4,440 before the budget." He sees support for the Nifty around 4,200-4,500.

Also see: Budget won't move mkt; buy education, irrigation: Kotak Sec

Here is a verbatim transcript of the exclusive interview with Ashwani Gujral on CNBC-TV18. Also see the accompanying video.

Q: Did we turn the corner once again yesterday, are we back in the range or is the Nifty looking like it could head higher?

A: It seems that we will enter the budget within the 4,250 to 4,440-4,450 kind of range. I do not think the market has enough legs to take out 4,440 before the budget. It is in a narrow range for about 8-10 days and a big trending move could come either way based on the event. But right now most stocks have become sideways and the big guns ONGC, Reliance, are quite sideways. You have isolated pockets of activity like education, sometimes some private banks, but not enough to take the market beyond key humps.

Q: On the downside though if the market is looking so ranged what kind of floor are you setting to it?

A: I think 4200-4250 is a good support. That was the level that got tested yesterday. As long as that holds, there is hope but clearly the market is consolidating and would need real good news to get past 4,440 to about 4,500.