#Nifty- Market outlook

Market view

Asian markets are trading at Positive note digesting the Chinese PMI data that dropped to 49.2 pointed to further economic weakness.
It is going to be a Data heavy week with Federal Reserve's interest rate decision, labor report, and earnings reports taking center stage.

Key economic indicators

🔰 Euro: GDP growth rate, Inflation flash

🔰 India: Infrastructure output

🌟Brent crude futures stable at $88 per barrel on Monday and were headed for the first monthly gain since May, as investors braced for large OPEC+ production cuts that threaten to tighten the market further heading into winter.

#Nifty. SGX suggest a gap up at 8.30Am at near 18000, Data heavy day and corporate earnings could cause a Resistance for market at 18021/18110 while support remains 17750

#Bank Nifty. It will remain highly volatile amid global events. Support is placed at 40300 and resistance at 41500.

#Derivative: As a start of new month, Derivative data is Mix but for a weekly expiry suggest a 5.2M call OI at 17800 followed by 5.2M at 18000. It will be crucial for markets to sustain above 17800 to continue its rally.