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Crude oil settled on a positive note in the international markets as WTI crude settled at $120.26 per barrel and Brent settled at $121.08 per barrel.Domestic markets also settled on a positive note at Rs 9,226 per barrel, up by 3.69%.

From a data perspective, Nifty futures open interest has declined towards 1 crore shares from 1.1 crore shares seen at the inception of the series amid ongoing short covering. However, FIIs have once again started reducing their longs and their net short positions have increased marginally

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“I am a bit concerned for global markets in the next one quarter as the Fed starts reducing its balance sheet. That is really the key for our markets and there are many different themes in different areas but for the time being, for the next two to three months, it is still kind of battening down the hatches a little bit and see how this starts to play out globally.”

"After the sell-off in the last few weeks in these sectors the valuations have become attractive and as we saw global sentiments improving. These sectors got some buying from the investors. For the coming week, there is a possibility that IT might continue to do well because the markets seem to be a bit volatile and defensive might further attract buying interest."

“We remain fairly positive on three key sectors.. One, is financials and specifically within that, the private sector banking pack. This is a sector where we believe valuations relative to the return ratios and ROE profile remains fairly attractive. The second segment for us is industrials, manufacturing and infrastructure.The third area where we are positive is the chemical space.”

Essar Power Transmission Company Limited (EPTCL), an arm of Essar Power, has 465-km transmission lines across three Indian states. The asset transacted is an operational 400 kV (kilovolt) inter-state transmission line linking Mahan in Singrauli, Madhya Pradesh to Sipat pooling substation in Bilaspur, Chattisgarh.

While largely staying positive, the index did not take any major step higher. The headline Nifty50 closed with a net gain of 231.85 points (+1.42%) on a weekly basis.

Just like a driver looks at the speedometer to gauge the speed of his vehicle a trader looks at certain indicators to judge the speed of the underlying stock or indices. These indicators are clubbed under the category of Momentum Indicators.

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