Daily Forecast – Share Market – February 6th, 2024

Market may show Volatility | Trade wisely

Time to watch Global news related to India | Global situation Important

Sun with Venus leads the day, well supported by Moon, Mars, Mercury, Rahu and Ketu. Indications that local cues may be playing key role during the coming few days. This does not mean that impact of foreign cues may not be important or can be ignored.

Many sectors may be playing key roles during the day for the ups and downs etc. Crude oil may remain around 75-80 USD.

US market along the Asian especially Chinese economic situations are cause of concern related to repo rates. We are in the last quarter for the general elections of 2024, so, practically market will be behaving accordingly.

I can recollect 2009, when stock market was not expecting repeat of UPA, but Saturday of that counting has surprised everyone and from the Next working day to till date market has shown great run. I mean to say that election can surprise anyone, possibly this time no surprises for Indian elections.

So, Nifty and market may show its own movements, only impacts or changes we may see in the trend of market after June 30th. 2024, when Saturn will start transiting retrograde. From April 30th, 2024, Jupiter will move in Taurus sign so, impacts will be seen from May 2024.

On date market may show some buying from lower levels, but still market may remain within range of 21650 to 21850 of Nifty. Ups and downs possible. Trade with guards (stop-loss) will be important.

Many segments may be showing their movements, because almost entire horoscope is active, still automobile, IT, banks and financial institutions may be playing key roles on the market. Watch with care non-traditional segments, power, infrastructure along with logistics including railways, hotel and restaurants etc.

News may play important roles – related to bonds market of India.

Nifty may remain within the range of 21650 to 21825. Negative impacts also possible.

Indian Currency

Indian Rupee may trade in between 82.60 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.