Daily Forecast – Share Market – October 29th, 2024 Nifty may look for regain 24500+ | Stoploss at 24300 Is recovery mode ON after just 8.5% of correction? Watch Rahu with Saturn (Rx) leads the day, well supported by Sun, Moon, Mars, Jupiter (Rx) and Mercury. Banks and financial institutions with support of textiles, leather etc. may try to show recovery from lower levels to the 24500 + levels of Nifty. I must say, it will be better to trade with STRICT stoploss. Reasons – It can be a clear strategy by the leading player – known as Brokers or pioneer of the trade – normally they are known as big bulls (I call them Shark). Small traders can think of turn around of the market, but only after the correction of 8.5%, will they look for turn around… chances are less. At least around 15% of corrections from the levels of past one month, this revival will be proper. Otherwise, I must say dicey. Activities in banks, automobile, defense related segments, IT, entertainment, power, and many more may try to influence the market, all the major employment generating sectors are not justifying with their strengths. IT, Banks, real estate were the key employment generating sectors and importantly, till 2016 Small scale sectors were hugely generating employment, all of such sectors are not supporting employment. Economy is based on selected houses, so they can control the market fully in coming […]
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