Nifty Prediction : Opportunities to buy on Dip | Pressure on upper levels possible
Daily Forecast – Share Market – October 22nd, 2019
Opportunities to buy on Dip | Pressure on upper levels possible
(Possible Nifty range 11550 to 11725)
Venus and Jupiter are controlling the day with support of Rahu, Saturn, Mars, Mercury and Moon. Market is opening after a long weekend. International issues like Brexit is still Open, even thought British have said that they will sign before 31-10-2019. Last market boom was because of this news. After 100 years, China and Japan are trying to come close because of business etc. Global situations are changing. Hence, indications from Geo-political and local political situation will give impact on the local market.
Rahu is indicating that in coming period we may see some more diplomatic and international tie-ups related to trade etc. So, time to be bit watchful for the Geo-trade and political situations. Mercury is also close to change its sign, we must expect some announcement and news from related ministry or sources.
Malefic combinations are active, indications are that selling on upper levels will not be surprising. Nifty may try to look for 11700, but pressure on upper levels possible.
INR may face some pressure, but crude is still under control.
Petroleum, insurance, research-based or sea related segments may be doing bit better. I will prefer for insurance-based segments in coming period or for coming period. Issues related to IT company may disturb some mood of the market. It will be better to look forward for decent banks, financial institutions, automobile, sugar, textiles, leather, health care, Dairy, FMCG, fast foods etc. Rubber and latex related segments may be doing bit better or may show movements.
It will be better to be watchful at least for the beginning. Keep a close watch on Political and geo-trade issues.
Opportunities to buy on Dip for Nifty OP. Range may be 11550 to 11725
Indian Rupee may trade in between 70.60 to 71.50 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