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Choppy week ahead for the markets

In the absence of any trigger to move the market, the Dalal Street is likely to remain lacklustre this week, say analysts.

business Updated: Jan 17, 2010 12:00 IST

In the absence of any trigger to move the market, the Dalal Street is likely to remain lacklustre this week, say analysts.

This would be the third straight week that the market is moving in the sideways zone and marketmen say a breakout on either side of the range is possible.

"The market would move in the range of 5,100 to 5,300. Since the market is moving in the same range for the past two weeks, a big move either on the higher or lower side is waiting to happen," SMC Global vice-president Rajesh Jain said.

Marketmen say as the volatility in the market is quite low at present, activity will remain muted till there is a next big trigger.

"It seems the market will move in a range till the settlement date or January 28. A trigger might come from the RBI policy review slated for January 29," Bonanza Portfolio assistant vice-president Avinash Gupta said.

Over the past week, the Bombay Stock Exchange gained just over 10 points, but its fourth straight weekly gain. On Friday, the 30-share BSE index ended down 0.17 per cent or 30.57 points at 17,554.30.

"Market will respond in a big way to the quarterly earnings from companies. Although some hiccups may come if one result is not up to market expectation. It will be mostly stock-specific movement this week," Gupta noted.