Daily Forecast – Share Market – April 2nd, 2024

Nifty may look for 22575 stoploss at 22300 better

Buy on dips and sell on rise

Venus, Rahu with Mercury (retrograde) are leading the day, well supported by Moon, Jupiter and Ketu. Importantly, lord of share market and banks have started transiting retrograde (ulti chaal), impact on banks, financial institutions and banks may show either slowing down movements or reversal movements. Although, other planets may give misleading indications also. Like today, Venus and Rahu are leading the day, which may give new false movements like “Mirage”. We may call it HAWA HAWAI.

Even then market may show some upside movements but in either of sides movements, this market may once again show the levels of 22462 of Nifty, in the fortnight. Global cues may not be supportive.

Volatility also possible, some upside movements with laziness movements. Nifty may look for 22575 or so. That means new levels may be seen (slow and watchful movements) sell on rise and buy on dips.

Inflation may be seen in US, China and other nations. Bond Yields in US are positive, crude oil may show upside movements.

Metals like gold, copper may show further movements.

Movements in many segments may be seen. Global political tension is critical for crude oil. Upside movements for Gold may give pressure on share market in coming week.

Watch automobile, EV related segments, electrical and electronics, communication, power, travels and tourism, IT in new segments, chemicals, alcohol related segments may give further heat to the General elections, confusing steps of politics may be seen in coming period, which may give further impact on the market.

Next week market may show some fall in the market.

Nifty may show movements towards 22575 and buy on dips for a while. Stoploss at 22300 will be better in Nifty. INR is showing weakness.

Indian Currency

Indian Rupee may trade in between 82.90 to 83.65 per USD.

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