Market view
Asian markets are trading at Positive note digesting the Chinese PMI data that dropped to 49.2 pointed to further economic weakness.
It is going to be a Data heavy week with Federal Reserve's interest rate decision, labor report, and earnings reports taking center stage.
Key economic indicators
🔰 Euro: GDP growth rate, Inflation flash
🔰 India: Infrastructure output
🌟Brent crude futures stable at $88 per barrel on Monday and were headed for the first monthly gain since May, as investors braced for large OPEC+ production cuts that threaten to tighten the market further heading into winter.
#Nifty. SGX suggest a gap up at 8.30Am at near 18000, Data heavy day and corporate earnings could cause a Resistance for market at 18021/18110 while support remains 17750
#Bank Nifty. It will remain highly volatile amid global events. Support is placed at 40300 and resistance at 41500.
#Derivative: As a start of new month, Derivative data is Mix but for a weekly expiry suggest a 5.2M call OI at 17800 followed by 5.2M at 18000. It will be crucial for markets to sustain above 17800 to continue its rally.
Asian markets are trading at Positive note digesting the Chinese PMI data that dropped to 49.2 pointed to further economic weakness.
It is going to be a Data heavy week with Federal Reserve's interest rate decision, labor report, and earnings reports taking center stage.
Key economic indicators
🔰 Euro: GDP growth rate, Inflation flash
🔰 India: Infrastructure output
🌟Brent crude futures stable at $88 per barrel on Monday and were headed for the first monthly gain since May, as investors braced for large OPEC+ production cuts that threaten to tighten the market further heading into winter.
#Nifty. SGX suggest a gap up at 8.30Am at near 18000, Data heavy day and corporate earnings could cause a Resistance for market at 18021/18110 while support remains 17750
#Bank Nifty. It will remain highly volatile amid global events. Support is placed at 40300 and resistance at 41500.
#Derivative: As a start of new month, Derivative data is Mix but for a weekly expiry suggest a 5.2M call OI at 17800 followed by 5.2M at 18000. It will be crucial for markets to sustain above 17800 to continue its rally.