Daily Forecast – Share Market – February 1st, 2022

Nifty may look for 17450 or so | Budget is key for the day (Volatility possible)

Moon with Sun is leading the day, well supported by Venus, Rahu, Ketu and Saturn (total combust). Foreign cues may be supportive, INR may show some better strength than the previous two three days level.

Issue is FIIs, Financing for start-ups, our banks are conservative for supporting Start-ups. They are bound to move towards foreign funding, which indicates – indirect control of foreign funding (corporates or whoever is behind this funding).

Market may show upper side movements in the hope of revelation of budget. Still, I am hopeful for the upside of market in coming period. Nifty may look for 17450 or so. According to the basic rule, Nifty must touch 18200 or so, but due to Geo-political or other issues related to local political issues may give impact on the market.

Logistics and others need strong revolution, for better investors attraction. Possibly time is not supporting for such facility (I mean, possibly we may miss such point of concern – astrology indicates).

Will this budget be able to show roadmap for the coming out of 5 years of sliding of economy?

Three years are badly affected due to CORONA, but was also a boon for Digital sector, IT, communication, banks (NPAs coming under control), logistics, e-commerce, Pharmacy, laboratory (pathology), healthcare related insurance, power, defence related areas, automobile (HCVs and LCVs), related automobile tyres, batteries, chemicals, rubber, lubricants, and likewise services. + Upcoming elections may also be influencing the budget session.

Now, time has come for semiconductor, renewable/alternate energy, defence, textiles, Green-energy, power, coal, metal, infrastructure, agriculture, travel and tourism (for coming period), support to start-ups, FMCG, automobile especially commercial and EVs, paints, cement, infrastructure related segments, Fertilizers, possibly for cold-storage related machinery etc., and many more linked with IT, Pharmacy may get some support with healthcare.

Keep a watch on healthcare and education etc.

Market may show ups and downs (possibly in some areas) due to budget etc. Otherwise, planets are supportive. Budget is key for the day. Nifty may try to look for 17450 or so.

Indian Currency

Indian Rupee may trade in between 74.10 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.