InvestorQ : What are the big triggers that you see for the next week of trading? Can you share some good cues for the market for the week?
Moii Chavate made post

What are the big triggers that you see for the next week of trading? Can you share some good cues for the market for the week?

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diksha shah answered.
3 weeks ago
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It was a week of correction for the Nifty and Sensex, losing nearly 2.5%. Here is what you need to watch out for in the coming week.

· Oil and IT taking a knock in the week with RIL leading the way. For now, it looks like the profit booking will continue well into the next week high P/E concerns.

· November 03 is the big US election. Most are giving an easy run for Biden over Trump, but polls and markets have often got the market wrong, so it could be interesting.

· For October 2020, GST crossed the Rs.1 trillion to scale Rs.105,000 crore in collections. That does not alter the fiscal deficit but indicates that revenue buoyancy is back

· Consumer facing autos are back in business with Maruti, Hyundai and MG Hector showing record sales in October on Navaratri boost. Should be a boost for autos.

· Reliance is getting more digital by the day. For the Q2 FY21, digital generated the highest 40% of total EBITDA and that could boost valuations of RIL

· Core sector growth was -0.8% and that looks encouraging as output is finally getting back to pre-COVID levels with positive cues for steel and coal

· It was a tough week for Wall Street which logged over 6% losses in the week. This could rub-off on markets as even Europe is seeing a resurgence of COVID cases

· Equitas Small Finance Bank IPO lists on November 02 and could hold the key to the future of IPO action.

· Keep an eye on PMI Manufacturing and Services. They are high frequency indicators, and PMI will confirm whether the core sector bounce is for real or just misleading

· Earnings roster this week includes big names like HDFC, NTPC, ITC, Sun Pharma, SBI, Lupin, SAIL, Muthoot, Pidilite, Vedanta among others

· Last week, the 11,600 level was held on the Nifty and this week the accumulation range went slightly lower to 11,500. That should be a decisive support for the Nifty.

· Watch out for the Fed meet on Nov 05. While Fed is expected to hold rates at 0.00-0.25% range, language of accommodation will be crucial.


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