Nifty Prediction : Trade with stop-loss | Nifty may look 100 points or so (Watch Volatility if any)
Daily Forecast – Share Market – October 22nd, 2021
Trade with stop-loss | Nifty may look 100 points or so
Watch Volatility (if any)
Mars with Moon leads the day, well supported by Saturn, Sun, Mercury and Venus. Indications are that foreign cues may play some important role in coming period. Although, lord of the share market is in own house, trying to protect the market and banks/financial institutions. But role of FIIs and DIIs may give strong impact on the market.
News from government/agencies may play some role, keep a watch.
This week market has seen Profit booking after a run up from 17700 to 18600 within fortnight. So, Profit booking “to banati hai”. Which we had already seen in this week. This means market is trying to form a base of 18600 or so.
Recovery from lower levels possible.
I believe that market is capable of showing recovery from lower levels, because of its lord. But other issues like energy crises, inflation and unemployment may give setback also, point is when and from which level. This will be better to trade with stock wise, instead of future and indexes.
It will be better that trade with proper guards of stop-loss on either side. I feel that dreams from the market may remain high, but fulfilment may be bit tough.
Time for defence, e-commerce, IT, space will be better in comparison to other traditional areas. Areas like power, infrastructure, cement, metals, coal, energy related any area, non-traditional energy area. Keep a watch on chemicals, pharmaceuticals, health related laboratories, automobiles, automobile tyres, banks and financial institutions. I believe that emotion of the market is comfortable, but result oriented day, I believe impact may be better.
Keep a watch with strict stop-loss. Market seems better to show some movement, although sudden changes may not be surprising.
Nifty may try to recover from lower levels. INR may improve slightly. Nifty may try to look for another 100 points or so towards upper side.
Indian Rupee may trade in between 74.30 to 75.10 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