A morning walk down Dalal Street | Nifty likely to remain weak with support placed at 10,315

A volatile week for India markets. The Nifty50 failed to hold on to 10750, 10700 as well as its 200-DMA and fell by about 1 percent for the week ended 22 November.

Well, the current week is unlikely to remain clam for sure as well as F&O expiry for the month of November and big macro data i.e. GDP data for the September quarter which will be watched by investors. 

There is plenty of macro data lined up on the international front as well. For instance, Japan will announce manufacturing PMI on November 26 along with US GDP for Q3 of 2018.

The US Federal Reserve’s minutes of the meeting will be out, a commentary eyed by traders to understand the trajectory that the central bank has adopted. 

Action around state elections is in full swing and this week will see Madhya Pradesh and Mizoram going to polls on November 28.

Technically, Nifty formed a bearish candle after three bullish candles which is a sign of exhaustion. The expiry is likely to happen in the range of 10400-10700 levels.