Daily Forecast – Share Market – April 24th, 2020

Weak Opening Possible | Foreign cues + Official cues Important

Moon, Sun with Ketu are leading the day, well supported by Venus, Mars and Mercury. Last working day for Mercury in its Neech rashi, transiting in last degrees. Global cues and COVID may play important role during the day. It is fact that results of various companies will be weak, which will not be only because of Corona, but impact of previous one year (weak) or we can say poor economic growth of nation during last 2 years and above all COVID. Unemployment is/will be another key factor for the market in coming period after Lockdown phase.

Everyone is trying to take money from common man in the name of COVID, without providing proper services. Even government has curtailed finances of Central government employees, impact will be for some other states which are following blindly centre. Private sectors are waiting to cut wages, salaries, retrench employees – which may give further very big impact on consumption story of the market in coming months. So, long term investments – wait for a while. Banks are also enjoying advantage to improve their mismanaged NPAs, RBI’s support and relief is not passed on to common man (home loan etc), rather deducted Interest rates on savings and FDs etc.

I had mentioned in my post related to the transit of Saturn in Capricorn that this Saturn will do justice with everyone, the way we got this national management, Saturn is giving Justice accordingly, one can derive meaning of the same.

For the day, market may show some selling on the upper levels. Nifty may try to test lower levels also. Market may look for news from Government or government agencies (which will be for traders/intraday traders basis).

Six planets are directly active and indirectly all the planets are active, so whatever movement we will see (direction wise) may be strong (either side).

I would like to avoid carrying position for Monday. Wait and watch at the time of opening of market, let the market set for the direction. Because movements on both side possible, initially selling on upper levels, then wait for news from government/agencies etc.

Indian Currency

Indian Rupee may trade in between 75.00 to 76.00 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.