Markets will pay attention to global trends; According to analysts, there could be volatility when the derivatives expire.
According to analysts, this week's stock market investors will mainly focus on global trends and foreign fund movement and may experience volatility due to expiry of monthly derivatives, as there are no significant local market-moving events scheduled .
The Nifty fell 42.05 points or 0.22%, while the Sensex fell 131.56 points (0.21%) last week. Global markets have been experiencing a measurable trend lately. According to analysts, during the most recent rally, domestic markets displayed resilience while global indices, especially the US, were under pressure.
Once all significant events have passed, participants will look for signals from the behavior of the crude oil and currency markets. Additionally, the monthly expiry of futures contracts for the month of November will keep traders on toes, said Ajit Mishra, VP - Research, Religare Broking Ltd.
The minutes of the Federal Open Market Committee (FOMC) meeting are due to be released this week, which will give more signals to the market. said Siddharth Khemka, head of retail research at Motilal Oswal Financial Services Ltd.
According to Pravesh Gaur, Senior Technical Analyst at Swastika Investmart Ltd, in the absence of any cues, the market remained range-bound, and will now seek guidance ahead of the F&O end. The market is currently taking a breather after a long run - up, which means there is a good chance of a breakout to the upside. But we are seeing profit booking in the broader market.
Apart from F&O expiry, institutional inflows will be important as they have come down in the last few trading sessions, he said.
Gaur said, "On the global front, the US FOMC meeting minutes will lead to some volatility in global markets. Movement in dollar index, US bond yields and crude oil prices will continue to be other important factors to be watched." "
According to Vinod Nair, Head of Research, Geojit Financial Services, the domestic market is expected to focus on global trends in the absence of significant domestic triggers.
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