Daily Forecast – Share Market – December 8th, 2023

Nifty may look for 21000 | Stoploss at 19800 better

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Mars, Ketu, Rahu with Mercury are leading the day, well supported by Saturn. Since, Moon is with Ketu, indicating that emotions of the market may be again shaky, but global cues may be supporting along with local stamina. Market is waiting for RBI’s announcement related to Credit policy etc. Commentary on previous month’s performance and for the future. Lord of lagna of Horoscope is under pressure of foreign cues and emotions/IT etc.

Natural gas and crude oil may remain under control. Crude may remain around 75 USD. This may give impact on our market in some better ways in coming period, although it will depend on government also.

Buying from lower is possible and Nifty is within range of 21000. Despite of emotional weakness from various areas.

Areas like previous day’s working may remain active. Stoploss will be key at 19800.

Segments like textiles, engineering, alcohol, renewable energy, non-traditional segments, government approach towards defence products to various nations may give impact on defence sector, especially aeroplane (fighter) etc., space segment is another attractive area after 2 years, cement, power, petroleum marketing companies, FMCG, agriculture related produces, sugar, by-products of sugar, and many more including fertilizer etc.

Nifty may look for 21000. Stoploss at 19800 will be better.

Indian Currency

Indian Rupee may trade in between 82.80 to 83.70 per USD.

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