Nifty Prediction : Market may trade Range bound | Nifty may trade within 10750 to 10950

Daily Forecast – Share Market – January 24th, 2019

Market may trade Range bound | Nifty may trade within 10750 to 10950

Sun, Mercury with Venus are leading Jupiter is supporting too. Mercury is heading for total combustion. Indicating that pressure or low movements in coming days can be seen. Recovery of NPAs can be cause of concern for PSU banks. Water resources may need more funding for coming period, otherwise economy may face further issues. Hence, any company involved in securing water resources may have better future in coming years.

Global cues may not be dull, but local political situation and issues may be cause of concern for the local market. Anyways, movements in banks – due to PSU banks pressure on bank Nifty can be seen in coming period. Trade with care. Judiciary can play better role for banks or government can give support to recover NPAs.

Crude and currency are holding their positions. Hence, Petroleum and related segments may be doing better. FMCG, automobile tyres, batteries, paint and infrastructure with housing etc. can show some movements. Overall situation for mid-caps may be better than large caps. Market may trade as range bound. 10750 to 10950 for a while. So, use this consolidation or Profit booking period for earnings. Market needs some big news to set direction, I hope after a week market may show direction for a month.

Indian Currency

Indian Rupee may trade in between 70.60 to 71.60 per USD.

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

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