A morning walk down Dalal Street | Nifty must hold above 10,650 for up move towards 10,750

It was a volatile week for D-Street but bulls managed to pull the index above 10650 towards the close which is a positive sign.

Lot of macro data dominated last week such as IIP, WPI which came in the beginning of the week while CPI and Trade Data came in the second half of the week.

As the second quarter earnings have concluded, the focus of market will now shift to domestic and global macroeconomic factors. 

On the domestic front, second phase of assembly elections will be held in Chattisgarh on 20th November while the movement of rupee against the dollar and crude prices will be keenly watched.

Rupee ends at fresh 2-month high of 71.93 despite oil rebound

Although, the country's foreign exchange reserves declined by $121.2 million to $393.01 billion for the week ended November 9, largely on a dip in currency assets, RBI data showed on November 16.