Nifty Prediction : Market may show recovery from lower | Enjoy Opportunities

Daily Forecast – Share Market – October 4th, 2022

Market may show recovery from lower | Enjoy the Opportunity

Tomorrow is Holiday, Wishing you all – Happy Dussehra (05-10-2022)

Moon, Mars with Sun are leading the day, well supported by Saturn (Rx), Rahu and Venus. Indications are that market is again influenced by the foreign cues and geo-political situations. Also, better to keep a watch on FIIs.

Remember tomorrow will be holiday in stock market, for Vijayadashami (Dussehra) festival. Volatility in international political and market situation. Especially, rising energy costs, food crises and inflation etc.

Possibly due to oversold market – we may see recovery from lower levels, although geo-political situation may hit further ups and downs in different borders or nations. Currency is another alarming area. Normally, US gives better rally in last quarter of the year – possibly due to result-oriented situations, so, it will be better to be watchful with the rally from various foreign cues/markets.

Festive season is running, this may give some rally in our market also, but I must be watchful during the session or in coming session.

For professional traders – buy at lower levels and sell on rise. On every rise we may see sell on upper levels. It’s a pattern – dip, fall and then again dip.

In my previous day’s report, my observation was – Nifty may test 16900 and has breached this level around closing.

Al most all the area may show movements. I must look for investment in defence segment, long term (above 2-3 years) along with space related companies.

Automobile, new segments like electronics, IT, gas marketing companies, rubber based, automobile tyres, logistics, HCVs, LCVs (Heavy commercial vehicles and light commercial Veh.), fashion, alcohol, sugar, spirit and related segments and many more like banks and financial institutions, cement and tiles etc with sanitary products or better to say – bathroom fittings etc.

Nifty may try to show recovery from lower levels, but it will be better to avoid long. Use the Opportunity to sell on rise.

Indian Currency

Indian Rupee may trade in between 81.10 to 82.00 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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