Daily Forecast – Share Market – January 1st, 2024

Wishing You all a Very Happy New Year 2024

Profit booking on Upper levels possible | Range bound possible

Venus, Mercury with Ketu are leading the day, well supported by Mars, Saturn and Rahu. Indications are that market may again show some moves towards 21800 or so. Ketu and Venus are active, so they may try to pull the market up.

Jupiter has started transiting direct. Only concern is lord of share market and banks may behave like a falling planet, so may not be in a position to support the market as it was doing last week or so.

Remember, this 2024 has important events like General elections in India and elections in US. So, overall market will be certainly affected with these important issues. We may see spike in May 2024.

Today’s, market will be mainly based on local issues and activities. So, watch minor news with care.

It will be wise to sell on upper levels (as and when required). Buy at lower levels. Stop-loss at 21650 will be better.

Areas like banks, fashion, infrastructure, automobile, power, metals, banks and financial institutions, defence, electrical and electronics, petroleum marketing companies, chemicals, non-traditional segments, alcohol, wine, sugar, textiles, leather, paper, engineering companies, space, communication instruments, logistics, automobile ancillaries etc. may remain active with so many other segments.

Nifty may remain within the range of 21725 to 21825. Enjoy the trade and Year 2024.

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.