Daily Forecast – Share Market – January 29th, 2021

Nifty looking to gain from lower | Allow Market to stabilize

Moon with Mars and Mercury is controlling the day, well supported by Sun and Venus. Importantly, today is last working session before Union Budget (on 01-02-2021). Importance of foreign cues will be important. Opening may remain positive, but remember Liquidity is moving towards fixed income increased, which may hurt spark in the market, secondly, Mercury is totally slow, will start transiting retrograde in the evening after closing hour of the market.

Its an important day for the business before Union budget. Quarterly results of many companies expected. It will be better, let the market settle down (index wise), only then look for buying. Please note down closing values of Nifty, because after reversal of market moves in next market session, we may see same values within next 15-20 days (irrespective of movement of market on either side.

Let the market stick to reasonable value of above of 400 points in Nifty and the look for long, otherwise take precautions.

IT, communication, Pharmaceuticals, Automobile, Infrastructure, power, Metals, solvents, adhesives, I will prefer for steel etc. for long term from lower levels, dairy, FMCG, Food related and many more may show movements.

Trade with stop-loss. Nifty may try to look for 14000.

Indian Currency

Indian Rupee may trade in between 72.60 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.