Daily Forecast – Share Market – March 11th, 2022

Nifty may show Profit bookings | Second half interesting | Better to be watchful

Sun, Jupiter with Mars and Rahu + Moon are holding the key for the day. Impact of state election results are already digested on previous working day. On date side effect of results of election, Global issues, cooling off situation of crude oil, with currency still at 76+ of INR against USD, may be influencing the day. Ukraine and Russia conflict is still on 16th day.

As mentioned on previous post that market may show some profit bookings on upper levels. On date possibly, we may see volatility of sudden moves in the second half of the day. Remember we are at the base zone at the moment. If it breaches 1% from the upper levels, I feel that market may show some fall, otherwise Nifty may try to hold the market.

Planetary position is not bad, Rahu is improving, but degree wise is close to 0 degree, and in the next month will be changing its sign also. Hence, strength of Rahu may not be so strong.

Keep a watch on the various segments. It’s a last working day of the weekend.

Activities can be seen in Petroleum, sea related, travels and tourism, logistics and related LCV and HCV, along with passenger vehicles, time to invest in agriculture related automobile and automobile ancillary, tyres – keep watching, paints still critical due to high petroleum rates etc. Chemicals, IT, communication, power, metals, non-traditional, renewable energy, infrastructure and many more may remain active. Mid-caps and small caps better.

Nifty may show profit bookings on upper levels. Volatility of 1%  or so possible.

Indian Currency

Indian Rupee may trade in between 76.00 to 76.90 per USD.

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