Mumbai, March 29: Lack of any positive trigger, coupled with expectations of subdued quarterly results, might lead to further consolidation in the Indian markets in the coming week. “With F&O (future and options) expiry (which happens on the third Friday of every month) and a short working week with just three working days and one day without clearing, the expectation is that the markets are going to be trading in a very rrow range,” Geojit BNP Paribas vice president Gaurang Shah told IANS. The Indian markets will remain closed on April 2-3 on account of Mahavir Jayanti and Good Friday. According to Shah, post the five-to six percent correction on the index which had earlier witnessed lifetime highs, the downside would be very much limited and the recovery thereafter will be slow and shallow with a huge amount of time spent in consolidation. Other alysts said that April is likely to see a volatile start given the negative return of minus seven percent in March. “Going ahead, there are no immediate triggers for the markets on the domestic front and hence, markets may continue to be dictated by global factors. Further action on the fiscal or monetary front, if any, can give some upside to the market,” Dipen Shah, head of private client group research at Kotak Securities, told IANS. “However, we remain positive on the medium-to-long term prospects of the markets based on our expectations of further fiscal reforms and a pick-up in the economic growth over the period,” he added. The expected subdued January-March quarterly results are also expected to play a spoiler for the markets to return to the recovery path. (IANS)