Nifty Prediction : Gap-up Possible | Wait at Opening | Trade with the wind

Daily Forecast – Share Market – October 27th, 2022

Gap-up Possible | Wait at opening | Trade with the wind

Mars with Rahu leads the day, well supported by Jupiter (Rx), Saturn and Venus (C). Indications from foreign market will be important for the day, I feel that market after solar eclipse may show upper direction for the day. We may try to touch the important levels and try to breach the same key level on upper side. Local companies results may further give impact on the market.

Today is expiry of the month.

Instead of chasing the market in opening session, better to wait and allow the market settle down even at lower values or on upper side. Remember, market is close to its restriction levels (if opens with gap-up).

Globally, giant IT companies are under pressure, impact may be on local companies also (if it is then not surprising). Textiles, banks and financial institutions may be little bit better.

Rahu, gives waves – means market may show movements like wave – high and then possibly profit bookings on upper levels. In case market holds the upper levels then possibly little bit of upper levels may be seen. GDP, inflation, unemployment etc. are not encouraging for me. Market movements may not reflect as on date, but such issues are important for the economic growth.

Areas like oil exploration companies, banks and financial institutions, non-traditional segments, defence, space, HAL, defence related electronics, and other related to defence segments, alcohol, wine, spirit, paper, leather and many more related segments, logistics, LCVs, HCVs and many more areas may show action.

Nifty may show Gap-up opening. Avoid chase at opening.

Indian Currency

Indian Rupee may trade in between 82.20 to 83.00 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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