News flow to bring back excitement in mkt

Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See what other CNBC-TV18 anchors have to say Nifty BSE | NSE 30/05/12 Are Mutual Funds betting on Nifty?

Q: How is it looking for the market this week-as you were saying this was a little more by way of news cues at least?

A: There is. But I think what has happened for the last couple of weeks is that we all have been fixated with watching global markets and the fact that global markets are very sideways has given us nothing to play with. Just see what is going on for the last one week with the S&P-it has done exactly the 1% move that the Nifty is done, volumes have drifted down in most markets overseas.

So as far as watching the world goes, I think we have mimicked it in a large part over the last couple of weeks or so ands not much is changed. So I think the eye might turn a bit invert and we might start looking at cues closer home which the advance tax numbers will probably start training the eye a little bit in to the earnings season which is coming up in April. Also the inflation data today which might be close to 10% will probably start or bring the debate on when the RBI moves and by how much back to the table.

So these are the two important domestic triggers as such because the monsoon is a bit away. Its earnings and interest rates and I guess if that had a 20% weightage in terms of market influence over the last one month and 80% was global, I think you will probably find a little bit more by way of rebalancing with domestic cues also coming to the fore. But for the Nifty it looks like today we start around 5100 and spend more time in this 50 point range, 5100-5150. It does not look like a breakout-it is looming just yet. Unless we get surprised as more of the advance tax numbers come in or the inflation number turns out to be a big surprise.