Nifty Prediction : Positive opening possible | Pre-budget session day | Trade with care

Daily Forecast – Share Market – January 31st, 2022

Positive opening possible | Pre-budget session day | Trade with care

Sun with Moon is leading the day, well supported by Saturn, Venus, Rahu and Ketu. Importantly, Saturn is within total combustion distance from Sun, hence, Saturn is not much supportive although is active, but not supportive for the coming days also.

Geopolitical situation may not be suitable, but local issues will be playing their role. We shall be trading on pre-budget session day. From 01-02-2022, budget session in parliament will begin. Which may reveal government’s focus on the areas for the financial year 2022-23. Reason is weak economy and growth. Covid and 2018-19/2019-20 had impacted the growth of nation. Anyways, this budget may show some direction for the year.

Possibly, some movements in the market can be seen in various segments. Market may show some enthusiasm on prebudget day. But it will be better to be watchful during the period. Wait and watch for the budget session. I am hopeful for the coming period of the market, although Geopolitical situation may give impact on crude and other segments. But may also give opportunities for defence and banks for the coming period.

Areas like IT, communication, power, infrastructure, automobile, EVs, EV related other segments, electronic semiconductor related segment, non-traditional segments, sugar, bio-fuel and green energy related areas and companies involved in the area will be having great run. We can not ignore coal for another 5-6 years, reason is sudden changes for thermal units can not be practically possible (globally), communication instruments, web related areas, digital platforms may also be giving advantage in the coming period. Alcohol, spirit, glycol and agriculture related areas may also be doing better in coming period.

US and other markets are also facing their issues, so every time we can not look for them. Our own issues should also be important for us.

Market may show some positive glimpses, but ups and downs will not be surprising. Nifty may look to look for 17250 or so. But stop-loss will be important on either side.

Indian Currency

Indian Rupee may trade in between 74.50 to 75.30 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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