Mkt could trade sideways with volatility

Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See what other CNBC-TV18 anchors have to say Nifty BSE | NSE 08/02/12 Are Mutual Funds betting on Nifty?

This is the start of an important week. One may see volatility come back into the market in a strong way due strong news flow ahead including many important results. The market buzz also expects a rate cut tomorrow.

The Nifty taking out the 3,500 level now looks a little difficult. The market could then trade sideways with volatility.

Also read: Mkt to trade +ve with target at 3800: Devesh Kumar

 

Here is  a verbatim transcript of Udayan Mukherjee's comments on CNBC-TV18. Also watch the accompanying video.

The markets looked uncertain on Friday:
The market has become a bit noisy over the last few days. So you are sideways but within that sideways movement there is a lot of volatility which has crept back. The Nifty is pausing around the 3,400-3,500 mark but has not cleared it convincingly. Globally too you are seeing that kind of mood of consolidation right now. I don't know whether this week which is quite heavy with earnings and news flow will be one more week of consolidation but within a range you will find lot of tossing and turning or whether the market may actually climb any news from the monetary policy to clear that 3,500 hump.
Interest is very high - everyday we are clocking 1 lakh crore in trade so there is no problem with interest. It is just that the next leg of the directional move has become a bit unclear a last few days.

Asian Indices:
Asia is not up to anything special this morning. A bit mixed there, some up, some down; the Japanese market down but the Hang Seng is up quite a bit and has recovered quite significantly from the lows. Many markets in Asia were in red early in the day but now they have got back into the green, so on balance positive; the reason why the SGX (Singapore Exchange Ltd) Nifty too has recovered from its morning lows.