Daily Forecast – Share Market – January 31st, 2019

Nifty may show (+/-) 75 points move | Trade wisely before Budget day

We have reached on Penultimate day of Budget 2020-21. Economy needs booster, global situation is influenced with the epidemic in China, their production may be affected due to this, companies from various parts may prefer to shut down their setups in China and may like to move in some safe place. Although more than 14 countries have started facing same health issues or detected cases.

Venus and Mercury are in lead with support of Sun, Moon, Mars, Rahu and Jupiter. Planetary position is not bad, but may give volatility on tomorrow, when Ketu and Rahu will be active along with Venus and other planets.

Situation indicates that market may open with positive but cautious note. I will not be surprised if market may give a down-side move also from upper levels. Nifty may look for 12100 levels, but dip may give dip from upper levels. Whereas support from foreign market may be positive, but due to expected activities from government (Venus is in main role).

Trade with care.

Activities in banks, financial institutions, automobile and related segments, dairy products, alcohol and related segment, insurance (health/general), export related segments etc. It will be better to keep a watch on FMCG.

I feel better to look for opportunities in good companies. Traders can trade with a range of +/- 75 points in Nifty.

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.