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Two other major IPOs to look out for are Mini Ratna company Indian Renewable Energy Development Agency, and Fedbank Financial Services. As for the Nifty50, analysts expect the index to remain in a consolidation phase until it decisively breaches the 19,850 mark. On Friday, the index ended 0.2% down at 19,731.80 points.
The Protean eGov Technologies IPO opens for subscription on November 6 and will remain open till November 8.
As the earnings near the fag end, a plethora of companies are scheduled to release their second-quarter earnings in the week ahead. Divis Laboratories, FSN E-Commerce, Power Grid Corp of India, Adani Ports and SEZ, Apollo Hospitals, Bosch, Zee Entertainment Enterprises, LIC, Oil and Natural Gas Corp, Coal India, M&M, HAL, and Hindalco Industries are among the big names to watch out for.
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On this week's strategy, Rupak De, Senior Technical analyst at LKP Securities, said that the strength may continue as long as the Nifty index remains above 19,600. "The bulls were able to protect the level of 19,600 during the Friday session, thanks to the strong open interest (OI) build-up at the 19,600 strike price by put writers. Only a decisive fall below 19,600 might trigger serious long unwinding in the market, till then a buy on dips strategy to favour the market," De said.