InvestorQ : What do you see as the major weekly triggers for the Diwali week starting on 01- November, Monday?
Dhwani Mehta made post

What do you see as the major weekly triggers for the Diwali week starting on 01- November, Monday?

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diksha shah answered.
2 months ago
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Here are some major weekly triggers for the week starting on Monday 01-Nov.

· Nifty and Sensex corrected on downgrades by FPIs like UBS, Nomura and Morgan Stanley on valuation concerns. Both Nifty and Sensex, as a result broke below their supports of 18,000 and 60,000 levels. RBI variable rate repos also tightened liquidity.

· Core sector up 4.4% yoy but down 5.4% sequentially showing signals of supply chain constraints on output. Major macro announcements in the coming week include PMI and auto numbers for the month of Oct-21.

· Large cap numbers expected this week include Bharti Airtel, HDFC, SBI, Eicher Motors, HPCL, IRCTC and Divi’s Laboratories. Mid cap results will cover Devyani, Lux, BOI, Godrej Properties, Bajaj Healthcare, Dabur, JSPL, Radico, Muthoot, Sun TV.

· It is a big week for IPOs with the IPOs of Nykaa and Fino Payment Bank to close this week and the IPOs of SJS, Sigachi and PB Fintech to open and close this week. However, market volumes likely tepid due to Muhurat trading on 04-Nov and holiday on 05-Nov.

· Critical FOMC meet concludes on 03-Nov as market await hints on taper and rate hikes. Meanwhile, FPI sold Rs.15,700 crore in the week and Rs.25,572 crore in Oct-21 month. Even option writers are now open to lower levels of up to 17,000 on the Nifty.

· In key global data points, US focus will be on PMI, construction spending, vehicle sales, Fed rates, Factory Orders, jobless claims, non-farm payrolls. EU focus is on PMI, jobs, retail sales; Japan on BOJ policy, PMI and household savings; China manufacturing PMI.

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