Daily Forecast – Share Market – November 1st, 2019

Trimming on upper levels possible | Wait for the correct levels

Saturn, Rahu and Venus are holding the key for the day with support of Ketu, Mars and Mercury. This week was good for the market purpose, I feel that good rise in Nifty, Sensex and Bank Nifty was seen. Mercury has started transiting retrograde, on 05-11-2019 early hours Jupiter will move to its own sign and house.

I agree that other planets are trying to give strength to the market, where as lord of the share market and bank is retrograde (Ulti chal). Banks and petroleum industry may be showing some advantage, trimming on upper levels possible. Impact of foreign trade can be seen.

We are building this trade on results basis but ignoring consumption story. Results we are comparing with the previous quarter or so, but growth in comparison to previous periods is important. New hiring, growth in new market segment and turnover in volume basis is key of a company. We are working out on the basis of turnout in terms of amount. Is this justifying growth of a company?

I believe that market may show trimming on upper levels. Keep a watch on global cues. Focus of government should be on Job creation/new industries.

Start-ups are based on funding and for that reasons, building their false valuation, because of funding from one source and then other. Focus should be on their initial losses, volume (not in terms of amount) physical, then we will be able to get the real growth of the companies. This is or likewise is the catch.

Petroleum, banks, financial institutions, insurance, automobile, and foreign related issues will be important for the day.

Look for opportunities at lower levels.

Indian Currency

Indian Rupee may trade in between 70.50 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.