Daily Forecast – Share Market – December 6th, 2023

Nifty may show Gap up Opening again | Is Nifty Planning 21000?

Consolidations also possible in coming period

Mercury, Mars with Ketu are leading the day, well supported by Rahu, Saturn and Venus. Indications are clear that market may show further gap up opening. Market may carry forward levels from previous day’s gains. Again, local political issues and other reasons, market may show gains. This indicates that because of Rahu in action for few days, market may show sudden flip at any moment in coming period. So, every day with stoploss move ahead.

Nifty may look for further another more than 1% movements. Banks and financial institutions will be playing important role during the day. Defence related segments may play important role along with railways liked segments.

Global cues may show some pain during the day, remember, such cues may play role during the day. This may give impact on our market. Watch gold. USD may be enjoying little bit of strength, this may give impact on INR.

Market has a feel that same government may continue after General election of 2024. That’s why market is moving ahead (one of the reasons). It seems that market may look for 21000 of Nifty levels. It will be better to look for advantages in stocks. In between some consolidation and profit bookings etc. may be seen during this period.

Areas like defence, banks, textiles, leather, cement, reality, infrastructure (for the coming period), IT at better rates, renewable energy, non-traditions energies, automobile and ancillaries (at better prices), aviation and defence related various range in aviation/space and related areas, radar or communication instruments, musical instruments, sports and education related segments, chemicals, and many more segments may be showing movements. Keep a watch on small and midcaps.

Nifty may show movements on upper side. Gap up opening possible. Nifty may plan for 21000 in coming period. Crude oil may maintain less than 80 USD. Which may again help Petroleum marketing companies.

Indian Currency

Indian Rupee may trade in between 82.90 to 83.80 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.