Daily Forecast – Share Market – January 27th, 2023

Allow market to settle down | Trade with strict stop-loss

Venus, Mars with Moon will lead the day, well supported by Rahu, Saturn and Mercury. Indications are according to the foreign cues, and cues from local quarterly results. Secondly, we are also inching ahead towards Budget.

Last working day was badly affected, today is again working day before weekend. Next week will be Budget week, so market may again alert, despite of GDP data, which had given positive indications for their market. Possibly, our market may also react to such data, and also jobless data is improved. Hence, we may see positive movements in our market and again look for 18000 in Nifty.

Importance for banks, automobile, travels and tours, IT companies (globally) are still going for layoff. Point of concern is our major workforce is involved in IT sector, and they are suffering for the same. Which may spoil the game, budget is again another reason for the suspicious traders.

Buying from lower and ready to sell on rise. Banks with care buy from lower. Unpredictable, so in case we see gap up opening then, allow the market to settle down, do not jump in the market. Wait to watch the wind.

Planetary position wise – banks may remain active, may give some suspicious moves. Be watchful. IT (global cues are not decent). Rahu may give sudden changes as it gave on previous working day.

Automobile, alcohol, metals, crude is rising, power, infrastructure, travel and tour, aviation related defence, on in general defence related segments, keep a watch on foreign linked trades, textiles, pharmaceuticals or better to say – keep a watch on quarterly report of various companies, may remain active.

So, it will be better to say that equity based movements may be seen comfortably.

Nifty may show gap-up opening. Wait and watch, then enter in the market, move with care, we are trading after a holiday and next two days are again holiday for the market (weekend). Trade wisely. Next week will be a week of Budget 2023-24 (2024 will be a year of General Election).

Indian Currency

Indian Rupee may trade in between 81.30 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.