Daily Forecast – Share Market – December 11th, 2023

Recovery from lower levels | Nifty may look for 21050 | Foreign cues better

Mercury with Rahu is leading the day + giving strength to the house of finance, banks, well supported by Mars, Jupiter, Venus and Ketu. Politically, market feels secure, no chance of Utha-Patak in coming months (as market feels). Market may feel emotionally better and look for further rise. Banks and financial positions may show some better emotions. Because they are well protected by their lord.

Concern can be INR. USD despite of some weakness may enjoy strength against INR.

Nifty may show some gains from the lower levels. Crude oil may remain around 75-77 USD. Nifty may try to regain its levels of 21000 and look for 21050 (0.5%). Or better to say, buying from lower levels possible. It will be better to go with stoploss of 20900.

Areas like defence, look for opportunities in non-traditional segments, AI related companies (IT), Oil and gas exploration related segments, automobile, paints, cement, FMCG, fashion, engineering, metals, automobile ancillaries, textiles, leather, watch sugar with care – profit booking possible, sea related segments, Jute related segments, housing, reality, infrastructure, alcohol, wind related segments, insurance, items linked with exploration from sea, shipping, and many more may remain active.

Nifty may show 0.5% movements. That means around 21050 of Nifty. Gold with care, pressure possible.

Indian Currency

Indian Rupee may trade in between 82.90 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.