Daily Forecast – Share Market – November 1st, 2023

Nifty may test 19000 and look for 19100 | Wait for long trades

Mars with Rahu leads the day, well supported by Sun, Jupiter, Ketu and Venus. Foreign cues may be affecting the market strongly, whereas Venus and Sun are exchanging their houses, but influence of foreign cues are again clear. Indications are that possibly market may try to show some recovery from lower levels. Nifty may test 19000 but may look for 19150.

Rahu and Ketu are indicating Volatility is also possible. Pullback not surprising. Banks may also show some movement.

China’s economy should be watched with care. This may give impact on crude oil, possibly expecting weak demand due to China’s economy.

Areas like banks, automobile, power, real estate, infrastructure, non-traditional segments, engineering, automobile tyres, sugar, travelling related goods, sea related, chemicals, solvents, rubber, leaf based and coffee etc. may remain active with many more segments like leather, textiles etc.

It will be better to avert longs for the time being. Either trade session wise or wait silently for trades unless gives any direction. Nifty may test 19000 and look for 19150. Crude oil is under little pressure due to China’s suspected demand because of weakness (expected) in China’s economy.

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.