Even as the deadline on US tariffs has ended, no trade deal has been inked between India and US. This is even as the US administration has imposed on 8 nations with the highest levy on Brazil of 50 per cent.

This is even as the US President Donald Trump on Tuesday said that the "US is close to making a deal with India."

The important and positive point about which the markets may rejoice is that even as the deadline has ended, there is no tariff implication for India. Furthermore, the President has not commented negatively on India.

Zee Business Managing Editor held that India didn't submit to the demands of the US. So, now the US and India

The expert said the US-India trade deal was to be initiated first but a 90-day timeline was not enough to crack the deal. He added that there are some issues that are stuck and there was no consent on tariffs on India.

So, the certainty continues to loom and the expert said had the deal been striked it would be positive for both India Inc. and the markets.

The market guru said that as the deal isn't signed the markets will continue to trade in a range. Already, the DII-FII activity is very subdued. Further, the market is awaiting how the IT sector may perform as TCS is due to report its Q1 earnings later today.

As of now, the Nifty is trading in the range of 25300-25600, while the Bank Nifty trades between 56600-57600.

The market wizard said that in a rangebound trade the small and midcap stocks generally see high action. Nonetheless, the momentum in these stocks is also subsiding when it comes to stock as well as sector-specific action.

He added that now the momentum may gain as quarterly earnings season commences with TCS today. The expert added that one should invest in stocks with strong fundamentals and those reporting strong quarterly earnings.