Daily Forecast – Share Market – January 11th, 2021

Nifty may look for 14450 | Keep a watch on Results | Crude tough

Ketu, Sun with Moon leads the day, they are well supported by Mars and Mercury. Indications for the decent pickup during the trading session. I believe that due to planetary situations market seems to look for new levels. May be 14450 or so. Enjoy advantage from Ketu.

IT is looking attractive. Reason is non-stop working from home for the IT companies during the peak of lockdown, and many companies have already announced their work from home at least till June or so. Indicating that their overhead expenses are under control and working is regular. Same, situation is for e-commerce etc. They had worked during the lockdown period also especially – companies involved in essential services (but they delivered majority of products), FMCG go the opportunity to clear off their entire blocked stocks during this lockdown, and after lockdown, fresh materials were in production with new planning.

That is the reason many companies could give better results than the previous year. Sales of many segments were down in 2019, but they got life (a sort of – or breathing space by banks). Similarly, automobile got new life after lockdown, now they are doing much better than 2019 period. They also got relief of blames for running plants for 50% of their working days or capacity (many companies).

On date automobile, banks and financial institutions, with IT, communication, entertainment, e-commerce, logistics, transport, real-estate, infrastructure, power, defence, space related segments (including defence system), cotton, silk, electronic and electrical, metals, ceramics, bathroom fittings, leaf-based, chemicals, Pharmaceuticals, solvents, and many more segments to show decent moves.

Trade with positive mood. Enjoy decent movements. Nifty may look for 14450 or so.

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.