Daily Forecast – Share Market – February 06th, 2020

Sudden movement Possible | Wait to settle down Opening

Rahu with Venus is controlling the day, well supported by Sun, Moon, Saturn and Mercury. US political situation is settled but Corona virus is still big threat to the China’s market. Crude may further show some movements, rise in rates possible. Mars is close to changing the sign and house. Still impact of foreign cues will be important, which may be positive.

Local issues related to companies and their performance may be main to influence the market. News from Government or agencies may be important for the market. Weekly closing may be again playing some role during the day.

Overall situation of the market is positive, levels of the market is close to the pre-budget. Opportunities at lower levels is possible. Traders, before going long, allow the market to settle down. In coming period market may look for another 100 points in Nifty levels. But Rahu is involved heavily so can give some unexpected movements (on either side) in the market. Venus is exalted and giving strength to the share market, so chances are better to hold or support the market from government side.

Automobile, banks, financial institutions, chemicals, carbon black, automobile ancillary may be showing some movements, with electronic and electrical segment with defence related areas may be looking better. IT, communication, logistics and related segment, entertainment may be looking bit slow during the day.

Waste management with water resource related segment will be better for the coming period. It will be better to keep a watch on Paper, leather, FMCG and agriculture related segments.

Market may be bit slow, but will give opportunities for long (Investors)

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.