Daily Forecast – Share Market – February 7th, 2022

Lazy movements with suddenness | Wait and look for Opportunities

Venus with Sun is leading the day, well supported by Saturn, Mars, Moon, Rahu and Ketu. Indications for the Volatility, importantly, lord of share market has started transiting direct. So, movement will be slow for us, possibly market may also be bit lazy at the opening of the market or during the day.

Results and geo-trade situation may also be influential for the day. Political activities will be starting or picking up during the week. Foreign cues may not be decent, our market may be influenced with the quarterly results of the companies.

Our market was oversold, but FIIs have sold a very large amount of their stocks and holdings in past month or so. Local financial institutions have picked up the thread from where the FIIs have dropped. Still, we can hope some correction in the market, but is capable to pick up from the levels. I believe that FIIs may check their cashflow in our market and may be moving out to some other areas or waiting for the right moment to enter US or other or our market.

Russia-Ukraine issues are also influencing global markets. But alarmingly, Nifty may breach 17500 levels or so. So, stop-loss. Asian market may be supporting because they will be opening after a very long holidays. Which may give impact on our market also.

Crude is alarming. Oil exploration is key to watch. Possibly may give some better moves.

Banks and financial institutions will be better than previous days, at the same time slowly and gradually market may revive its base and feel strength to give some confidence to the investors and traders.

This current market is not fit for the casual traders. One day ignorance in the market may not give much harm but offer to time to explore new opportunities in the coming market or direction.

Areas like automobile, logistics, IT, communication, e-commerce, power, infrastructure and related areas, keep a watch on automobile tyres, travels and tourism at better rates for the coming period, electronic and electrical, metal, engineering, chemicals, insurance for investors, crude oil exploration, alcohol, communication instrument and supporting instruments like router and likewise, fibre optics etc.

Keep a watch on the stop-loss, market may show some lazy movements but lord of the market is gaining strength so slowly and gradually will be better in the days to come.

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.