Daily Forecast – Share Market – February 2nd, 2024

Nifty may look for 21800 stoploss 21700 better |Wave possible

Ups and downs

Rahu with Sun leads the day, well supported by Moon, Mars, Mercury, Ketu and Venus. Rahu and foreign cues gives or indicates for surprising movements during the day. Foreign cues are important – this includes FIIs.

Nifty may try to look for 21800. But this does not means that stoploss can be avoided. Stoploss around 21700 will be better.

Impacts of quarterly results of companies may play important role during the day.

Rahu may give wave like situation. Hotel industry, IT (look for better rates for long), logistics, textiles, paper, petroleum marketing companies, lubricants, automobile tyres, PSUs based on news, automobile linked to EV or mixed in some other companies (because of quarterly results) may be seen during the day), chemicals, financial institutions (watch carefully), non-traditional segments may be doing or showing waves, and many more segments may be showing movements.

Crude may show some ups and downs but around 80 USD. INR may also show some strength. Gold may show some rise.

Nifty may remain within the area of 21650 to 21825. Trade wisely. Wait and watch will be better.

Indian Currency

Indian Rupee may trade in between 82.60 to 83.30 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.