Daily Forecast – Share Market – October 4th, 2023

Nifty may again test 19475 or so | Buying at lower possible

Moon, Mars with Ketu are leading the day, well supported by Sun, Rahu and Venus. Indications are clear that again day will be influenced with the foreign market and foreign political issue. It will be better to keep a check on the same. Local issue will also be playing their role, but foreign cues, FIIs and other issues of outside forces may be important.

Nifty may see pressure again and may breach 19450 or so. Trade with stop-loss. Buying from lower may be seen. But will that buying will be effective – can be a point of concern.

It will be wise to keep a watch on Iron and steel, Hotel industry, aviation, IT with logistics etc.

Many segments may remain active in either of the direction. I am not positive for the day. Both the key markets are not supportive. Which means again demand may sink. Banks at lower rates will be better for the period. Automobile and related segments are better, but due to global impact may not show desired results. Electronics and electricals, communication instruments, space related, alternate energy, and other non-traditional segments, microbiology related and others.

Nifty may show some pressure. Trade wisely. Crude is holding around 90 USD. Watch gold and Bonds.

Indian Currency

Indian Rupee may trade in between 82.60 to 83.50 per USD.

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