Nifty Prediction : Buy on dips | Consolidation/Profit bookings Possible

Daily Forecast – Share Market – November 6th, 2020

Buy on dips | Consolidation/Profit bookings Possible

Jupiter, Mars (Rx), Sun, Mercury with Moon are leading the day. Indications are that retrograde transit of lord of foreign lands may give mixed impact on the market. Geo-political situation may play some role during the coming days. I am surprised for the smooth movement of previous working day. Anyways, market may show some consolidation or profit bookings on the upper levels in coming period.

Crude is under pressure. Liquidity in US market is decent. Similarly in local market improved liquidity was seen, reason is Lord of the lagna of horoscope is in Neech sign, so will try to protect such issues within its own limits, impact of other planets will also be seen but strength of lagna lord plays important role, that’s why currency may show improvements.

Banks after running hard may show some rest or consolidation in coming period. It will be better to buy on dips for a while. Upper levels may be decent time to book profits as and when required.

Better to play with the wind and book profit if required. In my previous post I gave message for booking of profit on upper levels. It will be better to look for the advantage.

Petroleum, Insurance, FMCG, chemicals, banks, IT, communication, entertainment, automobile, cement, paints, automobile tyres, automobile ancillary Pharmaceuticals, healthcare, healthcare laboratories, dairy products with other areas may be showing movements in either side. Keep a watch on performances of companies of previous quarter.

I believe market is ready to book Profit on Upper levels and buying on Dip.

Indian Currency

Indian Rupee may trade in between 73.30 to 74.20 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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