Daily Forecast – Share Market – January 23rd, 2018

Nifty may look for 11000 | Profit booking on upper levels possible

Moon and Mercury are leading the day with support of Saturn, Jupiter, Ketu, Venus and Sun. Strong planetary position. I feel that mood of the trend is positive. Maximum segments are ready to show movements. Hence, indications for Mid-caps, small caps, banks and financial institutions may pull up the levels of Nifty.

Banks, financial institutions, engineering and defence with Leather, pharmaceuticals, chemicals, carbon black, textiles, paper, cotton, petroleum and gas, sea related segment like ports or shipping etc. may be doing better.

Power, cement, paint, automobile, transport – almost all surfaces. Railways and related segments may show some movements.

I feel even though, we are heading for eclipse, market is ready to show its metal for the time being. Secondly, but importantly budget session is also not so far. Results of companies are better than previous year. Hence, new levels before closing of the month is not surprising.

Indian Currency

Indian Rupee may trade in between 63.20 to 64.00 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.