Daily Forecast – Share Market – November 2nd, 2022

Nifty may look for 18200 | Keep a watch on FIIs | Market trying for rise

Rahu with Mars leads the day, well supported by Saturn and Venus. Foreign issues and cues may be playing important role with a wave on either side. Market is regularly rising its level and looking for the previous levels.

As mentioned in my previous post that market is preparing for 18200 of Nifty levels. Banks are bit shaky – possibly due to correction at upper levels. Time of correction in market is also possible shortly.

Currency is also heading for 83 against USD.

US job market is very strong. Opportunities are doubled for job seekers. Inflation is high, but their data are strong for jobs.

Indian market is again looking little bit better, political reasons are also applicable, important state elections are ahead. So, decisions from government or news from the government may be accordingly. So, play accordingly.

FIIs are strongly supporting our market, this may give run at the moment, but again time of correction is ahead.

Remember if market opens with gap-up and show stability above 18225 then Rahu may show swing for 18300, otherwise Rahu may show sudden down swing also. Rahu is strong with impact of foreign impacts.

Buy on dips – with keeping an eye on FIIs.

Defence, automobile, sugar, agriculture, power, infrastructure, reality, IT, banks, financial institutions, sea related including ports etc., insurance – keep a watch, engineering, automobile tyres and logistics, HCVs, LCVs, four wheeler vehicles, EVs, non-traditional segments, space, two-wheelers, with alcohol, spirit, cotton, textiles, leather etc. may be doing well or areas to keep a close watch.

Nifty may look for 18200. Wait at opening. Trimming on upper levels possible.

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.