Daily Forecast – Share Market – March 5th, 2024

Lazy opening not surprising | Consolidation possible | Nifty range 22450-22200

Moon with Jupiter leads the day, well supported by Mars, Mercury, Venus, Rahu and Ketu. Indications are for volatility or consolidation stage is still on. Anytime some consolidation can be seen. But this will be for the preparation of further new levels around 22700 or so of Nifty levels. This means stop-loss at 22200 of Nifty will be better.

On date Nifty may try for 22450, although opening may be bit lazy and allow the market to settle down above 22500 and then plan for next upper levels around 22800. Banks and IT key players of Indian economy are not active at the moment, that’s why market is waiting for race before elections.

IT may show some movements along with defence. China may replan their economy movements this may include their production and related segments, which means trade war in next year or so can be seen globally, when Saturn will move in Pisces sign.

On date segment wise we may see great movements – that means look for opportunities in Mid and small caps also. Defence, IT, space, railways, all for long term prospects, along with banks at better valuation, power, EV, solar energy, green energy, gases like Hydrogen and likewise segments may be doing better. Communication instruments, communication system for defence with FMCG, fashion, chemical, rubber and related segments including automobile tyre, and many more may show movements.

Nifty may show lazy movements then plan for 22450 and stoploss @ 22200. Gold movements is fetching money, that means Share Market may have some impact in coming period.

Indian Currency

Indian Rupee may trade in between 82.60 to 83.20 per USD.

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