Daily Forecast – Share Market – January 5th, 2021

Buy on dips (related to Budget) | Consolidation | Volatility Possible

Sun with Ketu is leading the day, well supported by newly moved Mercury with Saturn and Jupiter, Mars and Venus. Indications are market may be looking cues from foreign market. Indian market is heading for Budget for the financial year, and impact of the same will be clear in the coming market. That means look for Opportunities in any dip or consolidation – linking from Budget/budget related news.

Local cues will also be important but keep a watch on Mid-caps and small caps. Keep a watch on recovery after any dip. Buy in dips may be better for the budget related period. Banks may not be supportive on date. Reason is lord of the banks and share market is newly born in Capricorn. That means banks may give opportunities at better rates.

I feel that market may try to hold levels above 14000 of Nifty.

Activities in automobile, infrastructure, cement, real-estate related segments, automobile ancillary, pharmaceuticals, health care segments, IT, communication, entertainment, hotel industries (in dip), logistics, insurance, power, metals, electronics and electricals, defence, PSUs (based on news), and many more Mid-caps and small-caps may be looking interesting along with chemicals etc.

Look for Opportunities on dip (linked with budget related news).

Indian Currency

Indian Rupee may trade in between 72.80 to 73.60 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.