A morning walk down Dalal Street | Close above 11,620 will reinstate bullish sentiment

Indian markets closed lower on Friday following muted trend seen in other Asian markets, but rose nearly 1 percent for the week ended August 24. The S&P BSE Sensex closed below 38,300 while Nifty50 failed to reclaim 11600 levels.

Apart from global clues, macroeconomic data will dictate trend in the near term. 

On the economic front, the government will announce data on second quarter gross domestic product (GDP) on Friday, August 31, 2018.

Markets will continue to remain volatile as traders will roll-over their positions in the F&O segment from August 2018 series to September 2018 series. 

The August 2018 F&O contracts expire on Thursday.

Foreign investors have pumped in a little over Rs 6,700 crore into the Indian capital markets so far this month on improvement on the macro front, better corporate earnings and correction in the mid and small-cap space. 

If Nifty cracks below the 'hanging-man' pattern low of 11540, which is also a crucial support, it is likely to drag Nifty lower towards the 11450 levels.

The next hurdle for the index is seen around the 11640-11660 levels, suggest experts.