Daily Forecast – Share Market – December 2nd, 2022

Profit takings possible | Buy on dips | Nifty may look for 18900

Mars (Rx), Saturn with Mercury are leading the day, well supported by Rahu, Venus. Market with suspected mindset, is moving ahead slowly and gradually. Inching towards 18900 or the levels. Foreign cues may try to indicate a fear of recession in 2023, whereas, according the horoscope of China, they may once again try to bounce back with their working after February 2023, during their Mercury/Venus dasha.

Whereas European markets are under fear, impact is seen in the firing of employees in IT companies. Affect is not only in Europe, US, UK but in good MNCs in India also. Even then rise in IT segments were seen in Indian market.

Remember this rise in this Indian market is with support of Rahu, so deception at any levels in the coming period will not be surprising, although for our market, during the current period we may see gradual growth. Normally, gradual growth is supposed to be much stable than the sudden rise. In case gap up will breach the restriction barrier only then sudden rise is giving advantage for big moves.

Areas like defence, banks (for coming week), petroleum based segments like automobile tyres, batteries, automobile ancillaries, oil marketing companies, leaf based segments like Tea, coffee, rubber based segments, dairy, confectionaries, IT, infrastructure, reality, alcohol, sugar, by-products of sugar industries, space, rocket related segments, aviation (related to defence), agriculture, leather, textiles and many more may remain active.

Crude is slowing rising; China may show improvements in the coming months. Which may give advantage to the related segments in the coming months (like metals etc.).

Nifty may show levels of 18900.

Indian Currency

Indian Rupee may trade in between 81.20 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.