Daily Forecast – Share Market – March 5th, 2024

Buy on dips | Geo-political may be affected next week

Watch crude oil in coming period

Mercury with Rahu leads the day, well supported by Moon, Saturn, Mercury, Venus and Ketu. Importantly, global market and geo-political situation is heading towards solar eclipse. Global political issues may rise further, which may give impact on crude oil, because of Israel, and involved nations.

RBI policy announcements may be important for the day, I feel this policy announcement may be influenced with political situations – General elections ahead, so possibly no changes may be seen.

Crude oil may further show upside movements. At the same time INR is losing its base against USD.

Focus on dips, it will be better to look for opportunities on dips. Time is coming that global situation may give some impact on our market in next week. It will be better to be watchful.

Banks may be supporting to the market today, watch and move – results-based movements in many segments. Sugar, textiles, leather, paper, automobile (watch), energy-based segments, communication and communication instruments including related to defence, alcohol and related news may give temperature to the political environment, and many more may be showing movement. Remember today is last working day of the week, so volatility is also possible.

Buy on dips better. Volatility possible. Last working day of week. Geo-trade and political situation is not decent, which may give impact on crude oil and gold etc.

Indian Currency

Indian Rupee may trade in between 83.10 to 83.70 per USD.

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