Daily Forecast – Share Market – March 24th, 2021

Buy on dip | Take precautions at 14900 (if touches)

Saturn with Moon is leading the day, well supported by Mars, Mercury and Rahu. Lord of ascendant of India’s horoscope is totally combust, and indications from foreign cues may not be decent. Which may give impact on the market. Further, at the time of opening of the market, degrees of share market and foreign cues are same, that means at the time of opening chances of impact from foreign cues may be on the share market, and which may give mixed impact.

Sun is not allowing market to go down, because normally when Sun is transiting in Pisces sign, it gives high mood, but other planetary positions are playing different role than Sun, that is the reason that market is not in a position to get any proper direction. From first of next month, market will be enjoying support of share market lord also.

Crude may be facing pressure (reasons may be due to return of Corona wave – globally), which may give some better chances for Petroleum marketing companies. INR is holding its level, these two (Petroleum and INR) may help local market. At the same time issues related to COVID is alarming or better word is rising, which may create issues within states. Working is bit tough or cautious.

Keep a watch on Judiciary decisions/comment.

Position for IT, communication, Logistics, FMCG, Petroleum Products, Insurance, sea related areas, Laboratories, health care, chemicals, logistics and related areas, including automobile ancillary (buy on dip). Other segments may also remain active, like transport, impact on entertainment can be seen.

Opportunities at lower levels are better. Look for Opportunities at lower levels for the coming period (next series).

Chances of dip is quite possible with chances of recovering from lower levels. That means Market may again show some pressure and then recovery from lower levels. Take precautions at 14900 of Nifty (if it reaches). Take guards at 14600 if it touches.

Indian Currency

Indian Rupee may trade in between 72.30 to 73.00 per USD.

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