A morning walk down Dalal Street | Bulls will regain control if Nifty closes above 10,620

A lackluster week for Indian equity markets but bulls manage to take the lead in the holiday-shortened week. The S&P BSE Sensex rose 0.4% while the Nifty50 gained 0.3 percent for the week ended November 9.

The positive takeaway was that Sensex reclaimed 35000 while the Nifty50 had a touch and go moment with 10,600. 

For the week, crucial support for the index is placed at 10400-10450 while on the upside 10600,10700 will act as stiff resistance for the markets.

In the coming week, earnings as well as macro-economic data will dominate sentiments. On the economic front, India's industrial production data for September 2018 and all-India general consumer price index (CPI) inflation data for October 2018 will be declared on Monday. 

While inflation data based on wholesale price index (WPI) for October 2018, will be announced on Wednesday.

We are trading below the 200-days moving average and are in oversold region. Stable 10-yr bond yield, rupee and fall in oil prices will be supportive for the markets.