Daily Forecast – Share Market – November 7th, 2023

Nifty may look for 19500 | Trimming/light profit booking Possible

Jupiter, Mars with Ketu are leading the day, well supported by Sun and Venus. Importantly, lord of foreign lands is totally combusted. Planetary position is better. Foreign cues may be influencing the market, possibly in a better way. Mixed indications from global cues. Sell/trimming on upper levels not surprising.

I feel Nifty may try to look for 19500 or so. There may be some spike during the day at any moment on either side of the trade. So, it will be better to hold the trade with some stop-loss. On upper levels, possibly some trimming can be seen.

Crude oil may remain hold its position around 85 USD. Reason of fear of economic recession or economic crises in future.

Areas like Banks, IT and communication will be interesting and may show little bit ups and downs along with upside movements. It will be better to look for FMCG, cotton, communication instruments, automobile, ancillaries, batteries, automobile tyres, alcohol, spirit, acids/chemicals, and many more may show movements.

Nifty may look for 19500 or so. But Trimming on upper levels also possible.

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.