Daily Forecast – Share Market – February 28th, 2024

Nifty may look for 22300 | Stoploss at 22000 better

Watch government announcement and foreign cues

Moon with Rahu leads the day, well supported by Mars, Mercury and Venus. Importantly, lord of share market and banks/financial institutions is in total combustion position during the day and for tomorrow also. Hence, impact of foreign cues will be important for our market.

Moon may remain with Rahu, so emotions of the market may remain with ups and downs, foreign cues may remain important for our market. Nifty may look for 22300 or so, but volatility is also possible. Wave or sudden changes as the nature of Rahu, may give rise or dip to the market. Emotional movements possible.

Banks – unexpectedly moved yesterday, now lord of banks and share market has crossed this Sun, so situation may start begin differently, I mean that possibly banks may get some support but volatility possible. Saturn – is involved in combustion (total) and planetary war with Mercury. This may give impacts on the market. Many segments may not be in decisive mood for support or dip.

Segments like Banks, financial institutions, technology, defence, activities from government for export and import related segments (keep a watch in news), textiles, leather, paper may face some pressure or no support, alcohol, non-traditional segments, chemicals, leaf based segments, space, aviation manufacturing related to defence, and many more may remain active. Keep a watch on Modcaps and small caps for long run.

Nifty may remain within range of 22300 and stop-loss at 22000 will be better. Crude may remain around 80-85 USD.

Indian Currency

Indian Rupee may trade in between 82.60 to 83.10 per USD.

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