Daily Forecast – Share Market – November 4th, 2020

Nifty may show (+/-) of 100 points | Positive moves possible

Mars (Rx), Sun with Mercury are leading the day and well supported by Moon + Rahu. Importantly, foreign cues will be playing important role during the day. Moon and Rahu are close, which may give at times confusion during the trade. Lord of share market / Banks has started transiting direct (Seedhi Chaal). US election may affect the market in coming days.

As on date we may see some volatile day or profit bookings from upper levels and buying from lower levels. Local Political situation is not influencing much.

I will prefer to play with safeguards. Still, I will not forget levels of 11935 of Nifty (closing of 12-10-2020). On the lower side may further show (-)100 points or so.

Liquidity of the market is high, FIIs have gone up in previous trading. I believe that today again despite of lots of confusion from global cues, local market may show upside movements. Important is our own business pattern, political and bordering situations. Which may be activated highly after middle of November 2020, after movement of Jupiter in Capricorn with Saturn.

Movements in local market may be based on Results of previous quarter, I believe this may give a positive hope in the market. Because comparatively economy in previous quarter was better than the first quarter of the financial year. So, positive moves may be possible.

Automobile, alcohol, wine, spirit, leaf-based, chemicals, infrastructure, banks and financial institutions, Petroleum, sugar based segments, two-wheeler and many more. I am still looking positive for automobile ancillary and tyres/batteries. Entertainment, IT, logistics, transport all surfaces may remain active.

Conjunction of Rahu and Moon may give high rise (just a chance) means upper levels. Trade with stop-loss on both sides.

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.