Nifty Prediction : Nifty may test 17000 & Look for 17100 | Buying from lower possible

Daily Forecast – Share Market – November 29th, 2021

Nifty may test 17000 & Look for 17100 | Buying from lower possible

Saturn with Sun is leading the day, with support of Mars, Moon, Jupiter and Venus. Lord of share market and bank is totally combusted. Impact of Omicron COVID is seen globally. Take necessary precautions. 

Global cues may play important role and Volatility is quite possible. Nifty may again breach 17000, buying from lower levels not surprising.

Keep a watch on FIIs etc. Pharmaceuticals etc.

Petroleum and Gas marketing segment may remain interesting. Crude is under pressure due to COVID pressure in Europe, SA etc.

Foreign cues will be important. Solar eclipse will be seen in other part of the world, which may give impact in the market during the week. It will be better to trade to take advantage for the coming period. Market may further show some lower side. Remember we rose so fast to 18600 of Nifty and now slide is deserving. Big giants have enjoyed their profits and common traders have faced during the past period, but now lord of foreign lands is coming out of combustion, so malefic impact from foreign lands may minimize but impact of Solar eclipse in other parts of the world is tricky. This may affect the universal economy further.

Pressure on the market may be possible or on emotions of the traders can be seen. Hence, better to be watchful and look for opportunities in good equities, for which you are thinking to add in portfolio. Index wise trade can be suitable for professional traders only. Casual traders trade with care.

Action in Automobile, textiles, paper, leather, defence, IT, leaf based and IT, Insurance, FMCG, agro-products, Pharmaceuticals (again in limelight), Laboratories (pathological) chemicals, space and further more may remain active. But can be on either side. Banks may give opportunities in coming days for coming period.

Hence, buying from lower levels possible. Nifty may look for 17100.

Indian Currency

Indian Rupee may trade in between 74.00 to 74.90 per USD.

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

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