Daily Forecast – Share Market – November 15th, 2023

Nifty may show Gap-up | Wait and watch | Allow settling down

Jupiter with Mars leads the day, well supported by Moon, Saturn, Mercury, Venus and Ketu. Cues from foreign lands may be bit better than previous days. Possibly US market may give some better indications.

Local issues related inflation indicates (according to data) under control. Election is ahead, possibly some surprising movements in the market (on either side). Possibly Nifty may show upper movements and try to look for another 100+ points on the previous closing. Remember, every market is reactive to their or US/China’s central bank news or inflation/unemployment data. Markets own strength or weakness is waiting for a trigger.

US inflation is also coming down (according to latest data). Still, indications for economy is not strong. Remember US is also entering the last year of elections of 2024, as we have moved in the last 4-5 months.

Pulses, vegetables in India is not supporting the inflation data of India.

Please do not chase gap up above (if more than 19600). Wait and allow the market to book the profits on upper levels. I feel that such level may still tough for the market (Chances). Avoid fresh long trades.

Many segments may remain active along with banks and financial institutions. If banks give strong movement, and financial institutions then look for two main banks – HDFC and ICICI.

Textiles – be watchful, paper may be bit better, watch with care Raymonds for a while, IT midcaps, communication instruments, entertainment, sports, education related, leaf based, rubber, solvents, chemicals, railways related, logistics, fertilizers with care, sugar, defence, and many more.

Nifty may show gap-up opening. It will be better to watch and wait to settle down the market. Avoid chasing of gap-up. Crude may show slight upside movements with the hope of increasing 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.