Nifty Prediction : Nifty may trade in range (11800 to 12000) or so
Daily Forecast – Share Market – October 23rd, 2020
Nifty may trade in range (11800 to 12000) or so
Sun with Mars and Mercury is leading the day, well supported by Rahu and Venus heading for debilitation. Two planets are transiting retrograde, Mercury is heading for total AST (Combustion) on next working day. Foreign cues may remain active and indicates positive, and lord of horoscope is heading for Neech sign, so indications are that market may also look for positive moves, but due to change in the sign of Venus, chances of some deception is possible.
Today is the last working day for the week, next week initially, lord of Share market may remain total combust, which may snatch strength from its lord, but movements and other planets may be playing important role for the share market. Festival season is also on.
US market is based on the news or support from the government (may be expectations), election is ahead. Regarding COVID vaccine, we may see some news from Pharmaceuticals companies after November 15th, 2020. Improvements in employment can be seen in coming months. Still, many companies may be opting for work from home, not only in India – but globally also.
Due to deception in the market, if Nifty will breach 11800 points in coming period will not be surprising for me. Nifty may also try to look for 12000 levels.
Due to activities, I will look forward for automobile, automobile ancillary, automobile tyres, cements, paint, tiles, ceramics, electrical goods with electronics etc. may be showing movements. Banks, with financial institutions will be influencing the market with sea related areas. IT, communication, e-commerce, alcohol, sugar, win and spirit related segments may remain active. Jewellers with related areas may be showing activities.
Trade with stop-loss. Look for opportunities on dip.
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.
Categories: Share Market