Daily Forecast – Share Market – February 2nd, 2022

Market may look better | Nifty looking for 17700 or so

Moon with Sun leads the day, well supported by Saturn Combust, Venus, Mars, Rahu and Ketu. Foreign cues may be playing important role, with the local issues – supporting the local market. Indications are that market may try to climb up the ladders. Although lord of share market is close to change its transiting direct, speed for us is slowing down. Indicating that market may try to regain previous levels of 20 days back.

Nifty may try to look for 17700 or so.

Geo-political situation is under control for a while, which may give some better positioning for the market. In case Nifty will cross 18000 – may not surprise to me.

Areas like defence, digital segments, better to say IT, electronic chips, semiconductors, coal related, banks, power, infrastructure, chemicals, pharmaceuticals, textiles, EV and related segments, HCVs and LCVs manufacturer (heavy commercial and light commercial vehicles), automobile tyres, EV batteries, agriculture related automobiles, many more like by-products of sugar and many more. Hoping for travel related areas also.

Remember, FIIs may start buying in the market or avoid selling or minimizing selling in the market as they had done in past month.

Nifty may look for 17700 or so. If Nifty will touch or cross 18000 in coming days, may not be surprising for me.

Indian Currency

Indian Rupee may trade in between 74.20 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