Daily Forecast – Share Market – October 9^th, 2013

Bank Nifty to Trade Weak | Nifty may Open in Negative zone

7 out of 9 planets are directly or indirectly connected with Saturn and Rahu conjunction and because of conjunction of Mercury – lord of share market house is affecting this share market. Jupiter is giving aspect lord of gains and loss in share market that means whatever side market will swing will give indication of ups and downs, will not allow giving stable direction.

Mercury is movement (speed) is reducing day by day because is heading for retrograde position; hence movement in market will also be under control slowly and gradually. So, Nifty may not be showing much movement – I mean not a big gap on intraday basis or we can say day-to-day basis narrowing down this gap of movement.

I feel Nifty may open in lower zone and show some negative trend, profit bookings etc. Bank Nifty may be week.

Communication, Aviation, IT, creativity and transport etc. related industries may perform well. Few private banks or banking industry may not be doing well.

Industrial growth is not good, and because of expected results of companies, market may show some movement, but be watchful and calculative. For short term purpose yes one can opt for such shares but after results market may go for correction in such stocks.

Indian currency

It’s a matter of strength to the economy of nation and national debt but because of global scenario, Indian Rupee had recovered from 65 levels to 61.75 or so. I feel that movement will be in between 61.50 to 62.25.

Gold and Silver

Market may show negativity for gold in opening whereas Silver may move further up.