Daily Forecast – Share Market – October 28th, 2022

Buy on dips | As and when required sell on rise

Mars with Rahu and Saturn starts the day and well supported by Mercury and Venus. Mercury has move out of own house and sign, foreign house lord and Rahu are strong, indicating cues from foreign lands will again important. This is also fact that local issues related to the market or results of various companies may be affecting individual companies and may also give impact on the market.

Inflation is also on higher side. Global cues for IT are not strong, GDP of US is better than the expectation. Market has reacted to the expectations in US.

Japan and Asian markets are not as strong as US. Our market has already performed better than the foreign markets (like US), so their runup can be more than ours.

During the day, our market may react to Japan and UK’s market news.

Buy on dips will be better, for a while. Banks – buy on dips and ready to sell on upper levels – wait for some time, allow them to settle down. Also, today, and tomorrow, market may be reacting to the global GDP etc.

Areas like defence, exports, alcohol, spirit, non-traditional segments, keep a watch on automobile, automobile tyres, paints, oil explorations, power, renewable energy, EVs (EU is looking forward to stop using petrol and diesel vehicles), EV batteries, electronic chip etc., chemicals, textiles, leather, metals may remain interesting, with space, logistics  and communication related segments with Banks and financial institutions may remain active with others many segments.

Buy on dips and look for sell on rise as and when required.

Indian Currency

Indian Rupee may trade in between 82.00 to 82.80 per USD.

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