What are the major trading cues and triggers that you see for the week starting on 14 September? Should I trade long or short?

Broadly, it could be a fairly range-bound week with no major triggers to really give a substantial push to the market either ways. Here are the weekly triggers.

· The IIP at -10.4% has been improving since May and the good news is that manufacturing is almost back to 90% of the pre-COVID levels.

· All eyes will be on the star of last week, Reliance Industries. Watch out for action on the KKR purchase of RRVL stake and the proposed $20 b deal with Amazon

· Inflation on Monday is important as analysts are expecting it to cross 7% and that could rule out rate cuts for this particular calendar year

· Geopolitically, last week saw progress with high level talks between India and China. However, lot will depend on the actions initiated by Xi Jinping on troops withdrawal

· Multi cap rule came from SEBI late on Friday and could impact mid cap and small cap stocks. The 25% rule could trigger flows of Rs.40,000 crore into mid and small caps

· Focus of the trade data to be announced on Tuesday will entirely predicate on the level of exports. Markets will do a reality check if IIP recovery is reflected in exports of goods

· Key results for the Jun-20 quarter during the week include Vedanta, Spice Jet, Max India, Apollo Hospitals, HUDCO, PVR, ITI, NBCC, and SAIL

· IPO big boy, Happiest Minds, of Ashok Soota will list on 17 September and will set the tone for IPO appetite due to it being subscribed 151 times

· With Coronavirus infections crossing 95,000 per day all eyes will be on the Bharat Biotech Covaxine after Serum Institute was asked to put off its vaccine trials

· FOMC 2-day meet starts on Tuesday. while rates will stay close to zero, focus will be on the guidance on economic growth and the recovery

· Heavy Nifty Call writing at 11,500 and put writing at 11,300 hints at a very range-bound market and the VIX below the 21 levels only confirms that

· Key global triggers for the week will include US IIP, Fed meet, Jobless Claims, Euro IIP, EU Inflation, Japan IIP, Trade balance and China IIP will hold the key