Daily Forecast – Share Market – October 12th, 2020

Nifty may look for +100 Points | Buy on dip better

Mercury, Mars (Rx) with Venus are leading the day, well supported by Sun and Rahu. Lord of the share market and banks/financial institution has slowing down its speed for us because is on the curve, because is heading for retrograde transit position. Indicating that volume may be not as strong as it should have.

Nifty is in the range of 11900, looking for 12000 levels in coming period. Currency is in better position. US is also heading for elections, which can be a big event for the world, so long term investors may be bit cautious.

News from judiciary, government may be important for the coming period. I feel market may behave positively during the day. Rahu may try to show some volatility.

Banks, mainly in private sectors may be showing movements, it will be better to look for good banks. Market is indicating that buy on dip opportunities.

IT, automobile, agriculture, automobile tyres, batteries, building materials, cements or related segments, banks, financial institutions, infrastructure, communication, entertainment, hotels (may show movements), alcohol, alcohol based products, laboratories, health care products, and many more may be showing movements. Jewellers and related areas may be better.

Nifty may look for 12000 or so.

Indian Currency

Indian Rupee may trade in between 72.80 to 73.60 per USD.

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