Daily Forecast – Share Market – January 6th, 2022

Nifty within range of 17850 to 18150 | Global and Financial cues IMPORTANT

Venus with Rahu leads the day, well supported by Sun, Moon, Mars (Rx) and Saturn. Geo-unemployment threats are still on. Company like Samsung has also raised alarm. Whereas many job openings have started in US but again number of companies have announced job cuts up to the limit of 30%. Company like AMAZON has already announced 18000+ job cuts.

Ukraine – Russia war – two countries have again refueled Ukraine to give more fire to Ukraine and Russia war.

Big job fear. Economic trouble in various counties. There are few companies – practically they may be facing trouble but due to some or other reasons – they are showing good picture of their nation. We are also facing job cuts in private sector. Our size of population can not rely on government opportunity.

News based companies may be showing movements in positive direction. Otherwise, market is showing one step ahead and then two steps on backfoot. Retrograde lord of share market and banks is still troubling, although is supporting banks etc.

China is also facing tough situation on the front of COVID. Countries have started raising alarm on flights coming from China or for persons arriving in their country. This may hurt sentiments for the trades from China, hence hurting European banks. Globalization has advantages, at the same time negative impacts are also seen. Countries like Pakistan – facing financial crunch, unable to pay debts are also affecting economy of countries like China.

Nifty may test further some lower levels after touching 18100. I am not positive for the period. Time has come when one should not trade for long. Wait for further breaching the levels on deep. Then plan for Long trade. Investors can choose their companies with care and reading balance sheet and other reports on employment/unemployment and many other aspects of companies.

We are going for weekend. It will be better to go with smart trades. No buying for long. Watch DIIs and FIIs and banks with IT.

Nifty may remain with in 17850 to 18150 or so.

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.