Nifty Prediction : Nifty may trade in 11890 to 12000 | Ups and downs Possible

Daily Forecast – Share Market – October 22nd, 2020

Nifty may trade in 11890 to 12000 | Ups and downs Possible

Mars (Rx), Mercury (Rx), Sun and Venus are leading the day with support of Rahu. Foreign cues may be negative, but importance of FIIs and other institutions can not be ignored. US market is influenced due to expected news or advantages (stimulus) package, which is not supporting their market.

In local market we may see ups and downs during the day, active Venus and Rahu may not give desired figures during the day. Even then market may show positive emotions. I will prefer to go for the levels of 11950 or so, but also look for sudden moves in either side. Rolling of levels or can be seen or possible at any levels. Next week lord of banks and share market will be in total combustion status, which may give change of movements. Hence, stop-loss will be important for the coming period.

Currency is showing bit pressure, but due to festival season, we may see some smile on the faces of electronics, electrical, communication related instruments, readymade garments, e-commerce, automobile, automobile ancillary, automobile tyres (mainly due to check on Chinese tyres, they were enjoying big chunk from the share). Time for dealers of automobile giant tyres possible).

Agriculture and related segments may be showing decent moves, automobile related to rural and two wheelers may be better than passenger car segments. Building materials includes cements, tiles, sanitary fittings etc. may be looking better.

Trade for positive moves, still dip may give some opportunity.

Indian Currency

Indian Rupee     may trade in between 73.30 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.

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