Daily Forecast – Share Market – January 2nd, 2024

Avoid long position | Nifty may look for 21800 with sudden Jhatake

Stop loss at 21700 Important

Venus, Ketu with Mercury are leading the day, well supported by Rahu, Mars and Saturn. Importantly all the three malefic planets are in support of the day, Only Jupiter is not active as other eighth planets are active directly or indirectly. But Moon is forming good relationships with Jupiter. That means action in all the segments may be seen, but lord of share market and banks is not supporting the market as it is supposed to do. That means ups and downs are possible or laziness can be seen. Even then possibly market may move in positive zone (may be low).

Anytime spike can be seen. After 11:21 Hrs (IST), movements in infrastructure, reality, automobile, and related segments may be seen. This may reduce to impact of foreign cues.

Coal, metals and related segments may be showing movements. Opening may be lazy, possibly some emotional laziness.

Always ready to book profits as and when required, sudden news may show ups and downs. But recovery from lower may be seen in coming period. But profit bookings on upper levels is possible in coming period.

Cautious moves because of geo-natural calamities. China has shown negative manufacturing PI. But US is indicating some better shine. Secondly, US is going under election by the end of year, so market may be influenced accordingly. As we are/will be influenced with our own elections. Although picture of Indian election results are almost clear, so market looks bit settled. In case sudden/surprising changes, that will be in New transit of Jupiter, when will be transiting in lagna of India’s Horoscope (Volatility may increase during the period for 13 months – next).

Areas like automobile, poser, infrastructure, temples related segments, Nifty may look for 21800. But avoid Long trades even in any areas including positional.

Crude  oil is maintain around 75-77 USD.

Alcohol, sugar, textiles, leather, paper, engineering, aviation defence related segment, defence segment, pharmaceuticals, watch insurance segment, watch banks and financial services, Jhatake in the market is possible, please play with Laxman-rekha, Automobile, automobile tyres, petroleum companies (watch), power, by-products of sugar, travels and tourism including hotels and food delivery partners, coal etc. and many more may be showing movements.

Nifty may try for 21800. Sudden Jhatake (like quake) not surprising. Profit bookings not surprising, then sudden rise also.

Indian Currency

Indian Rupee may trade in between 82.60 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.