Daily Forecast – Share Market – January 8th, 2021

Nifty may look for 14250 | Traders – Enjoy the ride on either side

Sun and Ketu are leading the day, well supported by Mercury, Moon, Rahu, Jupiter, Venus and Mars. Indications for the cues from foreign trade/market will be interesting, which may give positive impact on the market. At the same time, quarterly (3^rd) results are expected to come, Budget is ahead, so market may give further movements. 8 planets are active directly and indirectly all the planets are active.

Nifty may look for 14250 or so. Look for opportunities (traders) and move accordingly. Institutional support can be seen during the period before budget. Although in the evening Saturn will become combust, which may give impact on the related segments in the coming time (for a month).

Banks are in good mood for the coming period, with IT, communication, e-commerce, automobile, textiles for the day, with sugar, leather, FMCG, solvents, Power, metals, Pharmacy, spirit, alcohol, electrical and electronics. Rahu may give wave on either side, so trade accordingly. Movements in almost all the segments can be seen.

Mid-caps and small caps will be interesting.

Keep a watch on announcements from government, which may impact the market either today or in coming period.

Nifty Looking positive, but trade with stop loss.

Indian Currency

Indian Rupee may trade in between 72.90 to 73.70 per USD.

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