Daily Forecast – Share Market – October 24th, 2023

Nifty may test 18800 & look for 18950 | Lunar eclipse tomorrow

Rahu, Mars with Venus are leading the day, well supported by Saturn, Ketu and Mercury. Indications are clear that cues from global market and political situation will be key. Mixed day possible. Chances of buying from lower levels. It will be better to look for opportunities at lower levels. Last working day of the week. Tomorrow will be Lunar eclipse. Actively will be seen in India and other parts of the world also.

Pressure on upper levels also possible. Nifty may try for 18950. But may test 18800 of Nifty. Opportunities at lower levels will be important for the coming week, but with stop-loss. Because geo-economic situation is not comfortable. Since, we have entered in the last six months of General elections, so some new announcements are also possible after November 2023. Which may give burden on local economics. Sell on rise also possible.

Volatility, waves etc. will be seen during the day, because in the second half of the day, Moon will be much close to Rahu. Which may give a sign of High tide (like situation in share market) in coming days.

Banks with financial institutions may show movements. Watch FMCG, textiles, sugar and its by-products, leather, alcohol, spirit, wine, non-traditional segments, consumer goods, communication and many more with chemicals, technologies, snacks related segments, fast-food etc. may remain active.

Nifty may test 18800 and may look for 18950. Crude oil may remain around 90 USD, because of dip in consumption.

Indian Currency

Indian Rupee may trade in between 82.70 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.