Global cues, FIIs behaviour and listing of Paytm shares and other IPOs will be among the key factors to watch in Indian markets in this holiday-truncated week.
The rebound in the final session again changed the tone and helped the index to close around the week’s high,” said Ajit Mishra, VP Research, Religare Broking.
“The coming week is a holiday-shortened one and participants will first react to the macroeconomic data of IIP and CPI inflation in early trade on Monday.
Nifty, said Mr Mishra of Religare Broking, should hold above 18,100 to inch towards 18,350+ zone while the support has now shifted to 17,800-17,600 zone.
On the domestic front, we will react to IIP and CPI numbers on Monday where inflation numbers are slightly higher than expectations while IIP numbers are much weaker than expectations.
Next week is going to be IPO-heavy week where we will have a listing of Policy Bazaar, SJS.
If we talk about the derivative data then FIIs’ long exposure in the index future stands at 57% while the put-call ratio is sitting at 1.16 mark which is neutral for the market,” Mr Meena said.
If we talk about Bank Nifty then the 38500 put option is having the highest OI of 18.25lac and will act as a strong support level while 39000 will act as an immediate hurdle as it has the highest open interest of 14.8lac for next week expiry,” he added.