InvestorQ : Hi Diksha, can you tell me what are the major trading cues I should watch out for in the coming week starting on 24 May?
Dhwani Mehta made post

Hi Diksha, can you tell me what are the major trading cues I should watch out for in the coming week starting on 24 May?

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diksha shah answered.
2 months ago
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Here are some of the major cues you should keep an eye on for the coming week.

a) Nifty breached 15,000 and Sensex breached 50,000 decisively with volumes on the back of positive cue from Fed minutes. Sensex was up 3.8%, mid-cap 4.3% and small-cap 4.4%, while Bank Nifty was up 7.7%.

b) F&O contracts expire this Thursday will be key as it comes after a huge bounce in the Nifty. It will be a test of whether traders choose to roll over long positions. More so, considering that FIIs continue to be net sellers of Rs.10,870 crore in May 2021.

c) India COVID cases stays below 3 lakh cases per day for sixth day. Now, with launch of COVAXIN and Sputnik, the centre is also looking at the J&J vaccine on war footing. This will be a positive for the markets.

d) Markets to keep an eye on big numbers this week of Eicher, M&M, BPCL, Grasim, Divi’s Labs, BOB, Alkem, Dixon, REC and IPCA. Rupee has also strengthened to 72.8/$ and that could facilitate spurt in FPI flows.

e) VIX subdued at 19.05 levels indicates limited downsides in Nifty and Sensex. Focus this week will be on Bank Nifty after the 7.7% rally in the week. However, put / call writing is not showing a big shift, except that the range has widened.

f) Major US data points for the week include new home sales, Q1 GDP estimate, durable goods orders, personal income, spending, Presidential Budget. Also watch out for Euro economic, services and industrial sentiments for May and Japan jobs data.


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