Wishing you all a very Happy Dhanteras and Festive season

Daily Forecast – Share Market – November 10th, 2023

Nifty may test 19300 and look for 19400 | Again avoid Long

Jupiter with Mars is leading the day, well supported by Sun, Moon, Ketu, Saturn and Venus. Lord of foreign lands is disturbed, which indicates that cues from foreign lands may not be supportive. Local quarterly results may give support to the day, but because of weak foreign cues may try to pull down the trades during the sessions. Opening may also remain silent.

Nifty may try to look for 19400 and test 19300. If it will breach 19300 then possibly may touch 19250.

China, US and other major nations are indicating weakness in their economy. We have to go in general elections in April 2024, so such indications may be avoided.

It will be better to avoid long for a while.

Uncertainty in global economy is pressurising crude oil and not allowing to increase the levels. Again, crude oil may remain below and around 80 USD. Banks may remain watchful. Indications are clear that market may try to look for base, which may give indications for going for long. Market is under reconciliation. It may show bit more dip.

Use exit opportunities if breaching levels in banks.

Pharma, automobile, ancillaries, automobile tyres, reality, infrastructure, FMCG, healthcare, textiles, leather, paper, entertainment, IT (watch for mid and small caps), sea related, oil marketing companies, insurance, metals, defence, chemicals, leaf based segments and many more may remain active.

Nifty may breach 19300 and look for 19400. Within short range. Avoid long.

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.