Nifty Prediction : Profit booking or consolidation ahead | Range of Nifty (+/-100 Points)
Daily Forecast – Share Market – November 5th, 2018
Profit booking or consolidation ahead | Range of Nifty (+/-100 Points)
Saturn and Mars are leading the day with support of Sun, Moon, Rahu and Ketu. Mars is on the verge of changing its exaltation sign to next house and coming out of impact of Rahu and Ketu. Or I can say that Ketu will be coming out of influence of Mars. This week has two short days for business. (out of this one day will be for Muhurt trading). Hence, it will be better to trade with care and considering two holidays. Indications for consolidation or profit bookings on upper levels is ahead. Political situation and geo-political situations will be important.
Impact of various quarterly results can be seen during the day on various equities (may be for short period). It’s a time to focus on equity-based trading instead of going for anything from the segment. Movements in various segments can be seen, but it will be better to focus on equity base buying. Traders can look for 10700 of Nifty in coming period (may be for consolidation). But it will be better to fix a strict stop-loss. Nifty may show down side of 100 points too. So, be prepared for (+/-) of 100 points in Nifty in coming period or for the day.
Textiles, leather, FMCG, Pharmaceuticals, paper, leaf-based segments, coffee, companies manufacturing tea or tobacco etc. may show some movements on the day. Paints, ceramics, infrastructure, cements, electrical and electronics, automobile, crude and related segments, shipping, communication and entertainment instruments etc. may be doing better.
Liquor, cotton, research and related segments may be doing better. Keep a watch on banking companies too.
Indian Rupee may trade in between 72.60 to 73.60 per USD.
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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
Categories: Share Market