Nifty Prediction : Nifty may show pressure | Buying from lower levels possible
Daily Forecast – Share Market – October 5th, 2021
Nifty may show pressure | Buying from lower levels possible
Three planets (important) are transiting retrograde, which gives suddenness in the market and volatility globally. On date Moon, Mars and Sun are leading the day, well supported by Saturn and Jupiter (both retrograde). Lord of foreign lands is within 1 degree distance from Sun, which gives total combustion for Mars. Indications are clear that foreign cues are not good.
Outrage had disturbed sentiment of IT on previous working day. It is also important that during this period IT, communication, internet related areas with logistics etc. Today, IT may have some pressure due to foreign cues.
In my opinion, market may show ups and downs, but this may give an opportunity for the coming period. It will be better to look for opportunities because market will try to protect own house of share market. Keep a watch on banks (PSUs also).
Energy may remain critical at least by the end of this year. China or Chinese company(ies) may face some defaulter stage, if it happens then will not be surprising for me. This is also fact that aur aspiration of 5 trillion economy is equivalent to the debts distributed to different countries are same that means China had given over 5 trillion loans to various countries. Now, this critical period of COVID has disturbed China. Their coal and requirement of crude and gas is increasing, which may cause disturbance of balance (for gas and crude) globally. Rates of crude and gas are rising.
Keep a watch on IT, banks and financial institutions, communication, logistics, power, energy, coal, metals, chemicals, alternate energy, health care, keep a watch on various share trading agencies. Water and related areas, pesticides, and many more areas may remain active on either side. Automobile of alternate energy will be key for coming periods.
Nifty may trade under pressure. Buying from lower levels will not be surprising for me.
Indian Rupee may trade in between 74.20 to 75.00 per USD.
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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
Categories: Share Market