As ‘Bullish Engulfing’ forms on Nifty charts, index band seen at 11330-11550
In the key global events this week, the US and China Peace talk on Tuesday, US Federal Open Market Committee (FOMC) meeting minutes (Wednesday), US and Euro Flash Manufacturing and Services PMI and three-day meeting of central bankers meeting at Jackson Hole will begin on Thursday. Indian markets are closed on Wednesday.
In the last short week, Nifty rose for the fourth consecutive week gaining 41 points to close at new peak of 11471 on the back of strong earning season and ignored the weakening rupee. Image source: IANS