Daily Forecast – Share Market – October 8th, 2021

Nifty may remain in range of 17700 to 17875 | Watch for suddenness

Moon, Mars with Saturn is leading the day, well supported by Rahu and Sun. Foreign house lord is totally combusted, indications from foreign cues – neighboring nation may have issues, which can be disturbing for us in coming period also. Lord of share market is heading for total combustion and is transiting within one Navmansha from Sun.

Local issues are supportive, but certain areas in automobile may be bit tough. It will be better to trade with stop-loss. Saturn is slowing down speed for us, because will be changing its direction of transit on 11-10-2021, (means transit direct). Rahu may give sudden movements and non-traditional companies may be doing well or may give something unpredictable.

Keep a watch on announcements from government or agencies.

Initially, market may look for local issues. Foreign trades are positive, but local issues may be moving slowly, but sudden moves will not be surprising.

Crude and other energy sources are rising, I believe this may not be good for India (long term purpose). This may hurt work from home sentiment, because of rising power cuts in various areas.

Wait and watch for Credit policy. Possibly, government may try to give indications – that nation is heading for normalcy. Possibly, government may (avoid to) give indication for energy crises, for which we and other nations are heading.

It is essential for our nation to focus on renewable energy, which may give not only energy to us but also earn revenues from different part of globe.

It will be better to trade with range of 17700 to 17875 or so.

Watchful areas can be automobile, agriculture related automobile, two wheeler, but interesting focus for IT, communication, power, petroleum exploration, coal, other source of energy, reality, banks and financial institution, keep a watch on FIIs, DIIs etc. Global indications may be supportive, but local issues and news will be much important.

Currency is under stable pressure, USD is strengthening its position. Keep a watch.

Trade with stop-loss. Emotions and liquidity is better. Range of 17700 to 17875 or so. Nifty forming levels for next higher levels.

Indian Currency

Indian Rupee may trade in between 74.30 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.