Daily Forecast – Share Market – October 6th, 2022

Nifty may look for 17350 or so | Keep a watch on FIIs and Foreign cues

Mars with Moon leads the day, well supported by Sun, Saturn (Rx), Rahu and Venus. Indications that cues from foreign cues are again important for the day and market may show some positive opening. Or better to say buying from lower levels can be seen during the day.

Crude prices are rising as OPEC’s move to cut down the production, which may give impact on oil exploration companies, and impact of Employment Data and Economy related data in US had pressurised the market. Fundamentals are not strong. In fact, historically, normally October market in US gives positive moves.

That means buy on dip. Trade with stop loss of Nifty at 17250 and buy on dips for 17400 or so. Hence buy on dips will be better and be prepared to sell as and when required.

Remember lord of the share market is in own house and will be protecting own house and also to banks etc.

Movements in defence, IT, Banks, oil exploration, gas companies, automobile ancillaries, automobile HCVs and LCVs, alcohol, sudden movements, spirit, non-traditional, power, infrastructure, cement, paper, textiles, leather, export, edible, agriculture produces and many more like chemicals, rubber, e-commerce, with logistics and travel-tourism etc.

Market is in heathy mood for a while. Enjoy the advantage from foreign cues. Watch FIIs.

Indian Currency

Indian Rupee may trade in between 81.30 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.