The NSO is slated to release the macro-economic data points of IIP and CPI on September 12.

Expected growth inducing measures along with attractive valuations will give an upward push to domestic equities during the upcoming weekly trade, market observers opined.

Additionally, other factors such as the rupee's movement, direction of foreign fund flows and macro-economic data points are also expected to determine the trajectory of key the equity indices.

"In the truncated coming week, eyes would be focussed on what steps will the government take to revive the economy and how the businesses perform in the festival season," Deepak Jasani, research head, HDFC Securities told IANS.

The government is expected to announce some more growth inducing measures especially for the real estate sector during the coming week.

"Nifty is likely to remain in an upward trajectory. The breadth has improved with mid and small cap stocks beginning to see some uptick," Sahil Kapoor, chief market strategist, Edelweiss Professional Investor Research told IANS.

"Expect Nifty to climb toward 11,150 levels which will be an overhead resistance. Once crossed this will cause index to have an upward momentum. Announcements by the Ministry of Finance may offer more cues for stocks in coming days."

According to Geojit Financial Services' research head Vinod Nair: "In the near-term market is expected to remain sideways with a mixed bias, volatility is likely to be maintained."

"We expect Nifty50 to trade in range of 10,650 - 11,150 in the short to medium term."

Besides, investors are expected to closely follow the macro-economic data points such as the IIP (Index of Industrial Production) figures.

The National Statistical Office (NSO) is slated to release the macro-economic data points of IIP and CPI (consumer price index) on September 12, Thursday.

"These data (esp IIP) will give indication of the depth of the slowdown that India is facing currently," Mr Jasani said.

Apart from these macro-data points, rupee's movement will also have a bearing on the equities.

"Currently, global macros are a cause of concern and domestic scene offers no great relief. Rupee is expected to swing, if the CNH depreciates," said Sajal Gupta, head, forex and rates, Edelweiss Securities.

"Expected rupee to range from 71.50 to 72.50 with a weak bias."

On technical charts, any pullback rallies in NSE Nifty50 during the coming week will require to cross the previous major high of 11,181 to reverse the current downtrend.

"Weakness could resume once the support of 10,746 is broken," Mr Jasani added.