Daily Forecast – Share Market – February 29th, 2024

Nifty may test 21850 and look for 22050 | Trimming on upper levels

Moon with Rahu will lead the day, well supported by Mars, Mercury and Venus. Importantly, lord of share market is trying to move out of total combustion zone, but still in total AST (combustion) zone, which may give impact on share market and banks.

Moon is forming decent relationship with Jupiter, Mars and Venus, but relationship with Sun, Mercury and Saturn are better. That means chances of emotional weakness may be seen, but wave is also possible. So, Nifty may try to recover previous level of 22050 of Nifty.

It’s a time to trade with care. Respect the stop-loss and look for opportunities for the coming period. Nifty may test 21850, it will be better to use stoploss accordingly.

Remember Next week, lord of share market and banks will be in better shape, so will be supporting market and its various segments, so avail opportunities from the available levels (it depends on the valuation Vs justification of equities. Indices will be based on strength of segment.

Foreign cues are playing important role to influence our market, which are not as good as they should be supportive. Election related activities are already started in US, indirectly, which may give impact in coming days on share market. Global peace is another point of concern, in coming months.

Crude may maintain around 85 USD. INR is little bit better than previous months.

Many segments may be showing movements. As they were active previous working day. Banks, IT, automobile and FMCG may be playing key role during the day. It will be better to watch and trade with care.

Look for opportunities on upper as well lower level of the day.

Nifty may test 21850 and look for 22050.

Indian Currency

Indian Rupee may trade in between 82.70 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.