Weekly Newsletter - Nov 22 2009

The bulls and bears are all set to continue their slugfest, as both the camps try to outdo each other amid what looks like a listless market. The key indices will remain generally clueless in a tight range, though the bias still remains slightly positive. The Nifty could take another shot at a new high for the year 2009 even as traders consider their bets ahead of the F&O expiry on Nov. 26. Its a no-brainer that global markets will continue to drive the sentiment along with the trend in fund flows. In this context, what is worrying is that the FIIs have turned net sellers in the past two days. Local funds continue to exhibit caution with the market close to the year's peak. Keep a close watch on fund flows to gauge the mood of the market.

For India, the next big event will be the release of Q2 GDP figures on Nov. 30. Of course, with the winter session of parliament underway one should expect a fair bit of newsflow from the capital. Sugar stocks will remain in the spotlight on expectations of some announcement on the proposed sugar ordinance. Also, the Prime Minister leaves for the much-hyped US visit over the weekend.

Coming to the global markets, Wall Street will be in a holiday mood ahead of the traditional Black Friday. US markets will be shut on Thursday on account of the Thanksgiving Day and will close early on Friday. Lots of potentially market moving economic reports are due next week in the US. Among the key ones include: data on existing home sales, new home sales, GDP, consumer confidence, FOMC minutes, durable goods order, personal income and consumer spending. Volume, which have already dipped lately, could take further hit. Don't forget to tune into events and developments from other parts of the world as well.