Daily Forecast – Share Market – October 14th, 2020

Profit bookings Possible | Nifty may breach 11900 (Nifty)

Venus with Mars (Rx) and Mercury (Rx) is leading the day, well supported by Sun and Rahu. Lord of the share market and banks has started transiting retrograde (ulti chaal/vakri). Market may show again value of 11935 within next 20 days even if it shows dips or high. Lord of the horoscope ascendant (lagna) is strong, that means reversal moves due to Mercury and Mars, may be influenced due to announcements from government. But it means that it will be better to be watchful for the market for the day.

Nifty may breach levels of 11900, and due to wobbling in retrograde planets, we may see bit instability in the movements. Global cues also may be bit tricky. Hopes from the Pharmacy side may not be positive at present but in coming months situation may improve. Anyways, total clearance from virus may be after 2023 January (or fearless movements).

Keep watch on Institutional sell and buy, especially FIIs.

IT, communication, infrastructure, power, automobile, rural related segments, urban markets may show dullness, due to poor income or loss of jobs, deduction in salaries etc. Honest Tax payers of middle class are bound to check their basic expenses, due to pay tax, levies in the name of COVID by shop-keepers, hospitals and many more.

Whereas rural areas are getting support from government, due to electoral system and poor voters in the urban areas. Fate of the government is decided by rural areas, even if they block roads, disturb system or anything.

Paints, cements, two wheelers, agriculture related automobile or higher levels automobile may be looking better. Keep a watch in the area of logistics etc.

Trade for wobbling in the market.

Indian Currency

Indian Rupee may trade in between 73.00 to 73.80 per USD.

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