* Foreign flows would be key for Indian shares after foreign institutional investors (FIIs) sold shares worth of 598 million rupees ($9.5 million) on Thursday to snap a 32-day buying streak that had totalled 238.84 billion rupees.
* Economic data will be also key, with July-September GDP data and fiscal deficit data for April-October on watch.
* Traders also expect shares will turn volatile ahead of the expiry of November derivatives contracts on Nov. 28.
* Nestle India, Tech Mahindra Ltd and Yes Bank Ltd are due to be included in the MSCI India index after Tuesday's close.
Sat: Pfizer Ltd and Wyeth Ltd boards meet to discuss merger Mon: Elections to be held in Madhya Pradesh state in central
India Tues: Cairn India Ltd board to meet buyback proposal
Wed: India's money supply data
Thurs: Expiry of November equity derivatives contracts
Fri: July-September GDP data (around 1200 GMT) April-October fiscal deficit
Rajesh Iyer, Head- Investments and Family Office, Kotak Wealth Management:
International markets have been flat in the last one week after moving up on Janet Yellen’s statement of delay in Tapering. Indian markets had also moved up sharply a week ago hence they have given a mild correction. Hard commodities could (excluding Gold) go up in the near future because of global recovery and delay in Fed Tapering. Considering more strong inflows from FCNR B bonds (>USD 22 bn) and stable trade Deficit we expect INR/USD to range between 61-65 for the rest of FY14. Equity markets will react to international new flows and results of forthcoming state elections. Earnings downgrade cycles seems to be bottoming out and sentiment is turning positive but macros are still supporting. Except for Current Account Deficit all other macro parameters are still challenging and would take time to recover. High interest rates and Fiscal Deficit would restrict any uptick in GDP growth rate. Debt market at this juncture is attractively poised for investors looking to lock in their money for long tenor. Yields are likely to react based on inflation and tapering