Given this range and with the budget around the corner for which event the build up has already begun, how would you play the event risk right now?

Our view has been that this is a range bound market. We have seen some correction happening during the last few weeks and we are now consolidating in a certain range.

This week we expect the activity to be at a low ebb considering that most of the global markets are on a holiday mode and the budget for next week would be the big trigger ahead.

Market would take a more strategic direction from the budget but from a near term perspective, I would expect the markets to be in a very broad range and our broad range continues to be close to 4700 to 5000 range on the Nifty. Stock specific moves here or there could impact the returns that one makes.

It is a very very range bound market that we are expecting from here onwards.