Market to remain range-bound: Analysts

Dalal Street is expected to see range-bound trade this week,as the earnings season is almost over and there are no major positive triggers in sight during the coming days,analysts say.

“The market is likely to trade in a tight range in the absence of any major trigger,though stock-specific actions will keep the buying momentum up. The market has been trading in a range for the last five weeks,” Geojit BNP Paribas Research Head Alex Mathews said.

Though global cues are not so strong,the market may open with a positive bias on Monday,with buying support in banking and auto stocks,he said.

Analysts,however,believe that a minor correction can not be ruled out in the coming days,as the Indian market is overvalued in many terms.