Daily Forecast – Share Market – January 11th, 2024

Nifty may try for 21700 | Watch government agency news

Stoploss 21500 better | Pressure on Silver possible

Venus, Ketu with Mercury are leading the day, well supported by Mars and Rahu. Lord of banks, financial institutions and share market etc. has started giving its impact. Only point of concern is for banks and IT. I hope next week this may start giving better results. That means buying from lower in banks may be useful in coming days.

Nifty may show positive intention after the closing of previous working day. Still sell on rise and buy on dip chances can be seen, reason is Amavasya type situation in the house of profit and loss/ups and downs etc. This situation can be suitable to perfect share market traders. Casual traders can trade with proper precautions.

Currency and crude oil may give another advantage to the markets linked to them.

Now time is for results of various companies, their indications for the completion of the year (financial year) and in US will give inflation data, results for their annual financial year of 2023. This may give impact on the market in coming period.

US has entered in election year. India is in the final countdown of election and nation (Venus indicates lord/leader of the nation) is Ayodhya mode for a while. Which may switch for the general election and breaching the Vedic Classics indications of transit of Eight house lord transit in the lagna of Horoscope of nation.

I banks may try to recover in the next week. Avoid trading, for long banks may be better.

Nifty may remain try to look for 21700. Stoploss of 21500 will be better.

Textiles, leather, paper, fashion, fashion accessories, power equipment, metals, defence, communication instruments, space, and related segment, watch entertainment, financial institutions may play important role. Keep a watch all the segments along with alcohol, acid, chemicals and travels etc. with aviation may be doing better.

Nifty may look for 21700. Stoploss at 21500 will be better. Crude oil may be under pressure but still around 77 USD.

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.