Daily Forecast – Share Market – February 1st, 2024

Budget impacts – Everybody knows | Ups and downs | Sudden changes

Remember this is interim but rural/people friendly budget | Watch solar/EV

Mars with Venus leads the day, well supported by Sun, Moon, Mercury, Rahu and Ketu. Interim budget day – just before the General elections. Watch local government news and impact of foreign cues along with result based impacts may be seen.

Planetary position indicates that government may try to give people (rural, women, youth) friendly interim budget, but important and main budget (key) in July after the formation of New government. It is believed that the same government may repeat. Yes, other issues may indicate changes after budget (possibly hard line after budget – may be important either in July or in main budget of 2025). Role of transit Jupiter will be important.

Suspicious movements during the budget (interim) session. I believe that with a faith of repetition of same government, so market may react with ups and downs. Still, I believe that ignorance of new creation of jobs – announcements may be possible but not practically. Government is confident that general public is ignorant of “MEHANGAI, UNEMPLOYMENT, PER CAPITA INCOME” which may give long term impact on the majority of public in coming years, and we may see it in 2025 onwards. When Mars mahadasha of India’s horoscope will begin.

We can not ignore global cues also for the coming period.

I believe opening may indicate some upside movements. Watch, automobile, IT (new areas like AI or others – under carpet – yet to see in future), wallet based companies, WATCH PAYTM negatively, many more segments related agriculture, rural based, textiles, leather, and many more may show movements.

Remember, populist budget may give impact on share market accordingly. Just indications for commitment for July 2024 budget.

Nifty may look for 21700 but with stop loss of 21450 will be better. Crude oil may remain stable around 80-83 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.