Daily Forecast – Share Market – October 10th, 2023

Nifty may look above 19625 | Stop-loss for Nifty 19450

Be cautious chasing gap-up if any

Ketu, Moon with Mars leads the day, well supported by Rahu and Venus. I agree that cues from foreign lands including geo-political situations may influence the market. But Ketu is indicating for some recovery from lower levels of the market. Possibly Nifty may show above 19600.

We know that Israel is in war with near by area(s). This may affect Geo-economy further. Crude oil and other segments may feel pressure in coming period.

Crude may remain around 90 USD. USD yield bonds may show better moves, which may indicate pressure on share market.

Locally, nation is in election mode (currently state elections – 5 states), then in general elections. So, we may see policies related to pleasing the common man or weaker sections. So, casual traders should be ready to take impact of elections.

Areas like IT, communication, aviation, defence related aviation, entertainment, sports related, alcohol, radar, communication instruments, cotton related, silk related, FMCG, fashion, health-care, insurance, Oil exploration, automobile, alcohol, non-traditional segments, green energy, agriculture linked automobile, automobile tyres, chemicals, Jewellery, metals, and electrical-electronics etc. may remain active. Recovery from lower levels can be seen.

Nifty may look above 19600. But stop-loss of 19450 will be better.

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.