What do you see as the major trading and investing cues for the week starting on 07 September? Do you see the correction continuing?

After a gap of many weeks, the previous saw the Nifty correcting from higher levels and the pressure looks to continue this week. Here are some major trading cues.

· GDP for the Jun-20 quarter contracted by -23.7% and that will weigh the next week’s trading. Global markets are weak and Indian markets may follow suit

· The court order on the EMI schedule is expected during the week. The 2 year moratorium if approved, could be credit negative for banks

· With Vodafone getting a lifeline, its future survival could depend on potential fund raising with Verizon and Amazon already showing interest

· Border tensions with China have extended beyond Pangong into Arunachal Pradesh and the delicate situation could keep markets under pressure

· The mid cap story got a jolt, losing nearly 2.5% during the week. Market losing breadth remains a worry and could impact market participation in the week

· August IIP and manufacturing numbers will be out on 11 September and markets will look for a recovery from the -16% reported last month.

· Big earnings announcements expected this week include BHEL, IRCTC, GIC, Info Edge, Eveready, HAL, Adani Green, J&K Bank

· After a long time 2 IPOs, Happiest Minds and Route Mobile, will hit markets and could be critical for retail appetite for IPOs

· Rupee strengthened but remained above 73/$. The FPI outflows during the week and the sharp Nifty fall on Friday led to the rupee losing some of last week’s gains

· Heavy call OI accumulation seen at 11,500 shows limited upsides evidenced by the VIX index shooting up above the 22 mark during the week

· Key global triggers for the week will include, US Inflation, Jobless Claims, ECB rate decision, EU GDP estimates, Japan CAS, Chinese Balance of Trade etc.