Daily Forecast – Share Market – October 5th, 2023

Nifty may Look for 19575 | Emotions better for the day | Stop loss Imp

Cautious moves better, Solar eclipse ahead (out of India)

Mars with Ketu leads the day, well supported by Sun, Moon, Rahu and Venus. Issues and cues may again influence the market. Chances of buying from lower levels but movements may not be so strong. Possibly, Nifty may look for 19575 or so. But this does not mean that volatility is nullified. It will be better to use stop-loss at 19375 for Nifty.

Local issues may be slightly supportive, but geo-political situations are still tricky. We may not be having access to all the news related to Geo-political situations (including our nation), but may be influencing the economic and business norms, and affect the market around October 14th, 2023 (solar eclipse is ahead). This eclipse may not be applicable in India, but global situation will be influenced (Political and economic situations).

Many segments will be active including banks and financial institutions, IT, communications, communication instruments (including radar, other instruments related defence and naval purposes), defence, automobile, logistics, chemicals, insurance, petroleum marketing, renewable energy, alcohol, sugar and related segments, automobile tyres, and many more may remain active.

Possibility of buying from lower levels for the day. Trade with the emotions. Nifty may look for 19575 or so. Crude oil is again roaming around 90 USD.

Indian Currency

Indian Rupee may trade in between 82.50 to 83.40 per USD.

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