Today, we expect the market to extend Friday's late rebound, purely on the basis of a global rally. Crude oil, which surged above $121 per barrel on Aug. 21, has slid back to $114 levels. The bulls may end on a high note today, and perhaps during the week if oil doesn't rebound again.
We will have the F&O expiry on Thursday. The rollovers have been quite low, reinforcing the view that neither the bulls nor the bears are willing to carry forward their positions into September. So, no major upheavals are expected on the derivative side of the market.
