Nifty Prediction : Pressure on Upper levels | Opportunities at lower levels – Planets decent
Daily Forecast – Share Market – October 17th, 2019
Pressure on Upper levels | Opportunities at lower levels – Planets decent
Rahu, Venus and Moon are leading the day with support of Mars, Jupiter and Mercury. Day may remain progressive. Sun has move to its debilitated sign. It’s a long weekend. Monday will be close for the trading, because of elections in Mumbai for Maharashtra assembly. I hope after Monday, election mode of the government may be over for some time and may come with new announcement which give indications for employment etc.
Geo-political and trade will be playing its role during the day. I feel again this day can give some positive movements but due to long weekend, we may see profit booking during the day.
IT, communication, entertainment, e-commerce, e-education and related segments may be showing better movements during the day. Keep a close watch banking issues (may be in cooperatives or likewise) which may give impact on banking (system).
Non-traditional, spirit, alcohol, sugar, electrical, electronics, Petroleum, gas, automobile tyres, lubricants, rubber and related segments, carbon black, chemicals, insurance, banks and financial institutions may remain active during the day and may give movements. Selling from upper levels will not be surprising, possibility of profit bookings before long weekend possible.
Planetary position indicates that mood of the market is positive and possibilities on dip for buying may develop.
Indian Rupee may trade in between 70.80 to 71.70 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