Indian markets may open with mixed-to-positive sentiment, supported by macro and earnings tailwinds, though index-level caution persists. 🔼 Positive Triggers: GST Collections in July showed a strong rebound, signaling demand resilience. Auto Sales remained robust for July, indicating healthy rural and urban consumption. FMCG Commentary from recent results has been encouraging, reflecting stable volume growth and rural recovery. Dollar Index slipped from 100 to 99, offering relief for emerging markets, including India. Brent Crude cooled off post-OPEC meet, reducing imported inflation risk. Nifty Earnings (2nd Half) have been largely in-line to positive, especially in infra, BFSI, and pharma. ⚠️ Caution Signs: FII short positions surged to 91.4% from 90.4%, nearing extreme pessimism zone. FIIs sold for the 10th straight session, while DIIs continue their support, buying for 20 consecutive sessions. Both Nifty & BankNifty show technical weakness and short buildup, suggesting a cautious trading approach. 📊 Key Earnings Today:

MARICO

AUROPHARMA

, Escorts Kubota,

DLF

(non-Nifty). 🔍 View: Despite macro comfort and decent earnings, heavy FII shorts and index-level technicals warrant caution on fresh longs. Stock-specific action expected to dominate.

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