Daily Forecast – Share Market – November 6th, 2024
Nifty may look for 24300 and Prepare to test 24100
Golabal Political situations important
Saturn (Rx) leads the day, well supported by Moon, Mars, Rahu, Ketu, Jupiter, Mercury and Venus. Movements in all the segments including midcaps and small caps can be seen during the day.
Planetary positions indicate that almost all the segments may be showing movements, but importance of banks and financial institutions for the day can not be ignored. Watch Bank Nifty and other financial institutions. FIIs may remain watchful for the elections in US. Secondly, they are smart enough to judge the economic and demand position of our market.
Today and in coming time, not only Indian market, but global market sentiments may be in control of US Presidential elections. Which is supposed to be chairing the global power leader.
Indian business and organizations are based on the job work business (importantly IT, which is the best foreign exchange generator and employment generating sector), other sectors are doing and improving but if IT is under pressure, lots of employment will be under pressure. So, US Presidential elections have its own importance for us.
Nifty may try to take the sentimental advantage of closing above 24200. But still Policies and other economic situation will be key for the coming time. I am surprised how this market is looking for such upper levels.
Nifty may look for 24350 and, on the downside, may again test the levels of 24100. Rahu may give wave on either side. Saturn will also be slowing down its speed for us from tomorrow.
It will be wise to keep a watch on FIIs, political and other combinations including business combinations. Crude oil Prices may remain around 73-77 USD.
Watch banks and their commentary related to the results and news.
Indian Currency
** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
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