Daily Forecast – Share Market – February 4th, 2021

Nifty may show (+/-) 75 | Look for opportunities for short term

Moon with Mars is holding the key for the day, whereas Rahu, Sun, Mercury (Rx) and Venus. Importantly, lord of the share market is reverting to Capricorn sign, indicating that is this planet is falling, we should not expect support from a falling planet. Global cues and FIIs may be playing guidance role to the market. Results are also influencing the market. Due to Rahu, market may show some confusion during the day. Although it is a day for weekly expiry.

Influence of RBI’s coming up policy estimation on 05-02-2021. Market may react to this also.

Crude may be supporting oil exploration companies.

Rahu may give volatility to the market at any stage during the day. May be little bit of Profit booking on the upper levels. Other planets have no negative impact for a while. Hence, market may look for either side of movements.

It will be better to look for opportunities at lower levels in Index. Nifty may give an opportunity within (-) 75 and (+) 75. Trade wisely.

Communication, IT, entertainment, web based businesses (e-commerce), automobile, automobile tyres, logistics, reality, leather, textiles, cement, paints, finance companies, banks (may show movements), dairy based, leaf based, chemicals, drugs, pharmacy, healthcare, laboratories and many more may be giving movements during the day. Keep a watch on the areas where movements are bit delayed.

Long term investors can wait for a while.

Nifty may be preparing for Upper levels for a while, but trade within range of (+/-) or so.

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.