Nifty Prediction : Keep watch on foreign issues | Opportunities possible
Daily Forecast – Share Market – January 28th, 2020
Keep watch on foreign issues | Opportunities possible
Venus & Jupiter are controlling the day with Sun, Moon, Mars, Mercury and Rahu. Pressure due to global issues and local performance of companies + budget is ahead can be seen. Nifty may try to be in the range of 12000 to 12300 as suggested yesterday. But still, I feel that Nifty may open close to the previous closing. Chances of opportunities at lower levels possible.
Coming period may give opportunities for good companies at better levels for long term investors. It will be better to book profit on upper levels for a while (as and when required) but look for better companies.
Movements in many segments is possible as previous day. Currency is under pressure, whereas due China’s current health issues, crude is facing pressure, and which may give impact on demand of crude oil. Resulting advantage to Petroleum marketing industry along with gas marketing companies.
Movements in automobile, leaf-based segments, dairy, chemicals, drugs, electronics, alcohol, insurance, with finance and banks can show some movements. But it will be better to look for opportunities at lower levels in next working days also.
I will like to look for waste management, water treatment or related segments also, which may be necessity in coming years. This segment may give advantage for long run. Traders can also enjoy advantage, but initially movements may be bit slow. Infrastructure, real estate, automobile may show better chances.
Importance of foreign issues cannot be ignored, important point for Government working is that lord of the lagna (Cabinet) is trying to deliver, and lord of new looks is in the house of fortune, so chances during the budget may be better.
Indian Rupee may trade in between 70.70 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