Daily Forecast – Share Market – February 5th, 2024

Nifty may test 21750 and look for 21925 | Watch with care

It will be better to wait n watch – look for Opportunities on either side

Mercury, Venus with Sun are leading the day, well supported by Rahu, Mars and Moon. Importantly, this Neech sign-based Moon in India’s horoscope is forming Vipereet Rajyog, and having good relationship with Moon, Sun, Saturn and Rahu. That means chances of positive movements possible. Nifty may try to look for upper levels. Profit bookings or trimming on upper levels also possible.

Global market may show some pressure or ups and downs, especially China. Otherwise, planetary position is comfortable. Tomorrow onwards lord of foreign house lord will be moving in its exalted (Uchch) sign, which may give impact on our market – slowly and gradually.

Solar or non-traditional energy sources manufacturing companies may be getting emphasis during this financial period (not only this but in coming years also). At the same time companies involved in defence even small companies like BEL (because of involvement in various other government projects).

I feel that Nifty may try for above 21900 and possibly some profit bookings also possible on upper levels. Mixed impacts from global market possible. Local cues may remain supportive. That means trade with cautiously. Reason is geo-political reasons.

Bond yield has got a jump, that may give some impact on the market, but not for the long run. Where as China’s market is facing issues (especially stock market), whereas they must focus on practice of trade and business in their country.

Watch with care automobile, EVs, EV related batteries, chemicals, automobile tyres, non-traditional, alcohol, foreign issues (watch with care), banks and watch FIIs, and local financial issues, watch with care – insurance, almost many segments may be showing movements, that means chances to pocket profits (as and when required).

Close to previous day’s last values – opening possible. Nifty may try for 21900. But as and when required pocket your profits – that means watch with care and move. Wait and watch. Nifty may breach 21750. On upper side it may go to 21925.

Crude may remain around or below 80 USD.

Indian Currency

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

Please like my Facebook page @ https://www.facebook.com/AnoopAstroSutra.

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