Daily Forecast – Share Market – October 4th, 2021

Buying at lower levels possible | Nifty may look for 17600

Moon with Mars leads the day, well supported by Saturn, Jupiter, Sun and Venus. I agree that foreign cues may not be attractive or may remain mix, but lord of the share market has fallen back in own house and sign. This may give weak support to own house of share market, that means may try to hold levels or may give opportunities for upper levels. Banks may also try to hold its levels.

FIIs and DIIs may play some important role for the day.

We may see buying from lower levels. Nifty may try to hold levels around 17600.

Energy position of India is not comfortable, because of rising crude prices, low production by OPEC, tough position of Coal etc. Keep a watch on OPEC meeting which is scheduled for today. Trade with strict stop-loss, and avail opportunities in dips, because market may try to hold levels in coming fortnight.

Local political situation may be tough in coming period, but market is enjoying liquidity advantage. Remember, share market may give indications for the economic growth, but can be … . I do not mean to say that growth is not there, but not justifying this run of share market.

Movements in many segments can be seen. Interesting can be IT, communication, internet and related all the areas including e-commerce, logistics, e-medical support system, health care, power, energy, automobile, EV, Coal, petroleum marketing companies, leaf-based segments, coffee, insurance and laboratories, paints, cements, infrastructure and many more segments etc. may remain active.

Keep a watch on mid-caps and small caps.

Indian Currency

Indian Rupee may trade in between 73.60 to 74.50 per USD.

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