Complete turnaround on the weekly sentiment of Nifty and Bank Nifty future weekly charts. Market holds the positive sentiment despite weekness in the asian market. FII are relentless sellers in the November month and DII are supporting the market with their relentless buying. The Reserve Bank of India (RBI) fifth bi-monthly monetary policy will be declared on Tuesday. Street expectation is that current RBI monetary policy is likely to be a non event.
Asian Market Last Friday
Key Macroeconomics data to watch week ahead
passage of Goods and Services Tax Bill discussion with the opposition
GDP data for September to be released on Monday.
Automobile sales figure to be released on Tuesday
Manufacturing PMI data to be released on Tuesday
Service PMI data to be released on Thursday.
Sentiment is shown above and the value of the sentiment ranges between 0-100. Generally 0 represents extreme negative sentiment and the scale 100 represents extreme positive sentiment and high probable chances of reversal from the peak sentiment is possible. (The sentimental analysis data about stocks is for your study reference and observation about the market. Not a buy/sell recommendation though)
Overall market mood turned back positive despite FII selling pressure. Likely to be good turnaround for investing sentiment again as long as 7800 holds.