Daily Forecast – Share Market – January 20th, 2021

Global cues important | Still, buy on Dips – Budget ahead

Mars, Sun and Mercury are leading the day, well supported by Venus, Ketu with Moon. Indications are – market may be influenced by foreign cues. Planetary position is supportive, but due to retrograde Jupiter and Saturn, market may give dip also. It will be better to buy in dips (if dips within the range of 100 points of Nifty). Market may again try to come back for 11600 or so, before budget.

Crude is supporting petroleum marketing companies, banks may give an Opportunities at better levels, keep a watch. Insurance companies may remain interesting. Traders can enjoy the day for either sides. Keep a watch on companies results (important for traders and investors also).

Automobile, leaf-based segments, automobile tyres, logistics, paints, automobile ancillary, fast moving products – like electric vehicles, railways, space related segments, IT, web, internet, cotton, communication instruments, electronics and electrical companies, before going for investments, check PSUs worth and announcements from government (investors should recheck).

Traders can enjoy volatility also. Investors can wait and watch the movements. Be prepare for challenges during the day.

Indian Currency

Indian Rupee may trade in between 73.00 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.