Daily Forecast – Share Market – October 10th, 2022

Impact of currency, crude and foreign market – Possibly Negative

Moon with Mars will lead the day, well supported by Venus, Sun, Mars, Rahu and Saturn (Rx). Importantly lord of horoscope Venus is in the range of total combustion. Indications are clear that impact of foreign markets or cues will be important along with the impact of FIIs, currency (may face negative impact and touch upper levels).

Crude is also looking for gaining the strength, so that after the direct transit of Jupiter may regain the same values from where, it came down. Tentatively, planning to touch again 100 USD.

Employment in US is strong with wage hike, indicating further inflation in US, which may give further interest hike in coming days. Hurting other nations currency value.

It seems that US has started USD (currency war), because with there each and all steps or indications for losing levels of our currency. Affecting health of our companies and economy. Data from IMF is also awaited, in coming period. Which may also hurt the sentiment of global market, indications for recession may further increase.

Market may open with negative indications and try to test 17050 or so. In case if it breaches 16900 (in coming period) then chances of further declines may increase. Global issues like crude and INR is weakening. Which is directly affecting cost of production, cost of logistics and movements. Hurting sentiments for automobile etc.

That is why alternate energy better. Focus of this sector is important, otherwise economy may go in further trap of OPEC nations.

Keep a watch on Banks, Oil marketing companies, IT (result oriented and impact of currency), automobile, two wheelers and automobile tyres etc. with automobile batteries, keep a specific watch on EVs, chemicals, power, Food based segments, and many more especially agro-produces and many more may show impact.

Impact of currency and crude will be seen directly.

Negative sentiments and wait n watch for the dips. Allow the market to settle down then look for the trade.

Indian Currency

Indian Rupee may trade in between 82.40 to 83.20 per USD.

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