InvestorQ : What is your stock market outlook for the coming week starting on 22-November?
Aditi Sharma made post

What is your stock market outlook for the coming week starting on 22-November?

diksha shah answered.
11 months ago

Here are the major cues to watch out for in the coming week commencing on 22-November.

· The big news was Reliance looking to reassess its O2C stake sale to Saudi Aramco. This is likely to be positive for RIL as it gives them better value for green energy. The big sentiment driver would be Paytm, after its 27% discount listing on Thursday lasty week.

· Sensex closes 1.73% lower after RBI bulletin raised valuation concerns. The big story this week will be the volatility created by the F&O expiry slated on 24-November due to likely weak rollovers and F&O long unwinding. Keep an eye on the rising dollar index.

· Paytm listing may be done, but there are more IPO cues in the coming week. Go-Fashion IPO closes on Monday and is likely to build on its 6.87 times subscription as on previous Thursday. There will be 2 listings of Latent View on 22-Nov and Tarsons on 26-Nov.

· In terms of quick cues, FPI flows continued to be negative at Rs.4,411 crore in equity in the truncated previous week on rate and inflation worries. The good news was oil slipping to $78/bbl and India should be happy with imports of 80-85%.

· Even as costs of inputs have been a challenge, the new emerging worry is from the rising cases of Coronavirus and shutdowns in UK, France, Germany, Spain and Italy. That is not great news for India just as it opens up trade, travel and commerce with the world.

· Call and put accumulation in the F&O market has been hinting at a broad range of 17,000 for the Nifty on the downside and 18,000 on the upside. The puts writing going deeper hints at caution in markets despite sharply lower VIX in the markets.

· Major US data points for the week include Existing home sales, Markit PMI, FOMC minutes, jobless claims, personal income and spending. Major ROW data points include ECB consumer confidence, Markit and ECB Policy plus Japan PMI Flash.