Daily Forecast – Share Market – January 22nd, 2021

Mixed day not surprising | Buy on dip (keep Patience) | Protect funds

Mars, Sun and Venus with Moon, Mercury and Ketu are holding the key for the day, along with total combust Saturn. Last day of the week, foreign cues and local concerns with the changes in the Presidential ship of US. Budget is also ahead. These all the factors will be influencing today’s trade.

Normally, intentions are better, but trimming or profit bookings on the upper levels is quite possible. Traders can look for watchful moves at least in the first session of the market. Saturn is total combust just 1 degree and 46 mins. away from Sun. Results will be playing important role in the market. Mixed day is possible during the day.

Next 5 days will be last working session before Budget session along with monthly expiry. These issues will be influencing next week of the trade. So, it will be better to consider the day’s trading session.

Previous day’s profit booking was important. Consolidation or profit booking both have a very thin line difference. I feel that currently, it was profit booking, possibly local reasons.

In my opinion, dips will be better for buying, but it will be better to keep patience before going for fresh buying. It will be better to go for stock base buying or entries/additions etc.

Activities can be seen in the areas of automobile, automobile tyres, banks, financial institutions, engineering instruments manufacturer, Pharmacy, IT, communication instruments, space related areas, defence, dairy, leaf-based segments, FMCG, realty, cement and related areas of housing, with many more areas etc.

Patience is key for the period. Mix day not surprising. Upper levels may again look for 14700 but be prepared for Profit bookings. But it will be better to protect your money.

Indian Currency

Indian Rupee may trade in between 72.50 to 73.40 per USD.

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