Daily Forecast – Share Market – October 8th, 2020

Nifty may look for 11850 or so | Emotions positive

Mars with Mercury is leading the day, well supported by Sun, Moon, Rahu, Venus and Ketu. Lord of the foreign cues is a fallen planet, so impact of foreign market may be not much supportive for the local market. Time has come that our market should react on our own strengths and weaknesses, but because we are highly relying on Job work from various nation (IT and communication etc. major revenue returns), so we are bound to react on foreign cues/issues.

Weekly expiry may look for positive mood. Nifty may try to show come back for previous levels on upper side. If market will be looking for another 150 points plus for Nifty (this will not be surprising). But this does not mean that we should ignore stop-loss.

Activities in banks, financial institutions, insurance, IT, communication, logistics, entertainment, lord of banks and finance + share market is heading for its retrograde transit. So, in coming period market may slow down its movements or volume, but other planets are propelling the momentum. It means stop-loss will be important.

Due to IT, banks market may look for 11850+ of Nifty position.

Automobile, and many more segments will be reacting accordingly. Momentum like this may try to show again 12000 Nifty levels in coming period (just an estimation).

Agro-products and others may be playing positively with chemicals, alcohol, wine, spirit, cement, tiles, paints and many more from infrastructure etc. may remain active.

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.