Daily Forecast – Share Market – February 13th, 2024

Nifty may look for 21700 stoploss at 21575 better

Sun with Moon leads the day, well supported by Mars, Rahu, Saturn, Mercury and Venus. Importantly, in the noon time Sun will be moving in with Saturn, two inimical energies in the same house.

Indications for the market is consolidation but still positive emotions for the market. This is fact that before moving in 22000 levels of Nifty, market may consolidate properly, so that there should be proper forward movements.

Political stability for the nation is strong. Election (general – 2024) indicates repetition of the same government, despite of eighth house lord Jupiter’s transit in the lagna of India’s horoscope (reason can be total combustion of this Jupiter during the first to fourth week of May 2024, or better to say at the time of formation of government). So, chances of repetition of the same government may remain active.

Point of concern may remain banks (PSU) watch, this may give the direction for buying or sell in the banking and related sectors. Allow the Bank Nifty above 45000, if crosses and remain stable then chances of buying may begin (banking share).

Materials from earth (like coal, iron ore etc.) may give some better movements but watch PSUs movements, this is again not indicating strong support to the nifty.

It is difficult to market the levels of Nifty. Time to watch with care, upper levels may look for 21700 and stoploss for 21575 will be better.

Many segments may show actions. Active government agencies may show impacts on the individual companies. One can look opportunities in Adani group for a while.

Nifty may look for 21700 and stop-loss at 21575. Crude may remain around 80 USD.

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.