Daily Forecast – Share Market – October 7th, 2020

Volatility Possible | Look for Opportunities | Nifty may try for 11500 – 11750

Moon with Mercury is leading the day, and well supported by Ketu, Rahu, Venus, Mars + Sun. Indications for the market may be not much support from foreign cues, reason is lord of foreign lands is a fallen planet, so this cannot be able to give support to local market. But local cues may be better, despite of many issues in the nation (mainly due to political reasons).

No political party is touching correct issues because unemployment and shortfall in income is ‘quite common issue’, but this cannot fetch TRP for party, media and also unable to gather votes. Planetary position is reflecting these issues.

Monopolization may be harmful for the normal trend in the nation. This may destroy job opportunities, competitiveness advantages to the end users, advantages to certain organizations only. We are heading for the same. Negative impacts can be seen after six months or so.

Foreign market like US, which was relying on stimulus packages from the government must find out their real strength, similarly our own manufacturers and companies have to strengthen their own strength and get the best results. Government is always thinking with election point of view (not only in India, I believe everywhere).

Government’s packages are based on the income from the nation, and such income is based on wealth of companies/business/trades/manufacturing and income of common man. Which is totally chocked, only relief is for rural segments is seen from government, whereas real consumption is in Urban areas, where no one is supporting, because they are ‘jobless Honest Taxpayers’ – middle class (lower/middle/upper). Unless they will be in better position, revenues to the government will be very poor.

I don’t mean that government should not give support to rural areas but at the same time, urban areas, manufacturers and employees should also be protected, encouraged etc. For that we may need better visualizer as shasak of Ministry of Finance.

Planetary position for Indian market is comfortable but falling planet for foreign lands is point of concern, secondly position of Rahu/Ketu may give volatility in the market.

Local situation is indicating that market may breach levels and move ahead of another upper levels. Nifty may try to look for 11700 levels or so, but sudden volatility is also possible due to lack of support from foreign cues. Nifty may feel uneasy movements (this will not be surprising because of our reliability on foreign markets/issues).

Many segments are active. IT, communication, fibre optics, sugar based segments, alcohol, textiles, cotton, communication instruments, routers, entertainment, transport, logistics, automobile, automobile ancillaries, automobile tyres and batteries, with paints, infrastructure, building related segments etc. may be showing activities.

IT may feel pressure at any time in coming period due to strong linkage with foreign lands, whereas this was one of the strong field of lockdown period, which was working and earning revenues by reducing their expenditures (over heads) and also by deducting salaries of their employees in the name of COVID, averting increments etc.

Pharmaceuticals in coming days will be strong.

Market may give opportunities due to global scenario.

Nifty may feel uneasy due to foreign cues. Trade with strict stop-loss.

Indian Currency

Indian Rupee may trade in between 73.20 to 74.00 per USD.

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