Daily Forecast – Share Market – January 4th, 2024

Nifty stoploss @ 21350 better | Range bound (21400 to 21600)

Sell on upper levels not surprising

Mercury with Ketu is leading the day, well supported by Moon, Mars, Rahu, Saturn and Venus. Global cues may remain not supportive, which may further give impact on our market. Although, local cues may remain bit better and may show some buy from lower levels.

Today will be first weekly expiry of the year 2024. So, some surprises may be seen.

Banks may give opportunities for next fortnight. Or better to say next week may indicate better for the banks. Today, we may see some more movements due to truckers’ strike. Although this may give impact on various fields of the nation, but government is smartly avoiding news from main media, which may give negative impact on the market. But practically, regular items may show rise in prises of essential commodities.

This may show impact on edibles.

Crude oil may show some movements on upper side, that means in between 75-80 USD.

US market may further show weakness. Nifty in India is passing through challenging zone. It will be better to wait for the expiry and then decide for the next day. I must suggest that avoid longs (still).

It will be better to watch the trade within the range of 21400-21600. Nifty may show sell on upper levels. Stoploss will be better at 21350 for Nifty.

Movements in almost all the segments may be seen. Avoid Index trade, if possible. FIIs may not show positive mood.

Nifty may remain stoploss at 21350. Trade may remain within rage of 21400 to 21600. Sell on upper levels possible.

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.