Nifty Prediction : Nifty may be looking for 11900 or so | Ups and down possible | Wait for stability
Daily Forecast – Share Market – October 20th, 2020
Nifty may be looking for 11900 or so | Ups and down possible | Wait for stability
Mercury with Mars and Venus is leading the day, well supported by Sun and Rahu. Indications from foreign cues may not be comfortable (possibly). Keep a watch on FIIs etc. Digital segments may be important for the coming period, it means related to the areas, segments will be important for coming period.
Wobbling in the market due to its lord can be seen along with the Banks and financial institutions, whereas during the lockdown – banks, IT, e-commerce with related segments were active in proper way or in some cases better.
Many companies have got the chance to clear their blocked inventory. Pharmaceuticals was also active in normal ways, may be with support of less number of outlets but with e-medicine shops, so they were also not influenced practically.
Many companies have averted overhead expenses, with proper working (Like IT, many BPOs, KPOs, DTH, communication etc.), which should be reflecting impact in their quarterly working and results etc. Keep a watch.
Possibility of some sustained moves in the market will not be surprise, possibly due to foreign cues. Local issues are not much negative. Corona is also indicating reducing trend. Market may try to digest pressure of foreign market indications.
Infrastructure, reality, cement, paints, and housing related segments, petroleum, banks and financial institutions, IT, e-commerce and communication etc. will be important for the coming period. Impact of income and other layman’s issues may further be important for the market.
Keep a watch, market may try to look for 11900 with wobbling in the market. It may show pressure also. Trade with care. Banks will be playing important role for the Nifty.
Indian Rupee may trade in between 73.10 to 73.70 per USD.
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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
Categories: Share Market