Daily Forecast – Share Market – September 16th, 2024
Nifty may look for another 0.5% | Traders Use stoploss
Mars lord of foreign nations, cues and impacts leads the day, well supported by Sun, Moon, Rahu, Jupiter, Saturn (Rx) and Venus. If we see properly that means almost entire horoscope is active. Indicating that activities in almost all the segments may be seen.
Buying from lower levels is quite possible and may show movements around 0.5% on the upper side. Sell on upper levels also possible. Global movements may also have impacts on our market.
Energy can be key indicators for the fall in demands (globally). We cannot ignore the side effects of unemployment, inflation, fall in demand and affecting productions in the companies. At the same time this may be affecting service sectors which are totally based on Productivity of industrial segments and banks also.
An alarming situation is ahead (possibly after US election). Japan is still in negative inflation, but slightly improved. China is suffering with downfall in demands, clear indications are from their reality market.
Watch alcohol and sugar related companies with positive approach at least for the day.
Despite so many negatives market may show positive movements. Secondly Gold may show rise in prices (impact of USD vs INR).
This means midcaps and small caps will also the active along with the impacts of crude oil (which may remain within the range of 70-74 USD), despite of tussle/war in the key production areas of crude oil. This clearly indicates a downfall in demand. So, oil exploration related companies may be affected by the drop in crude oil prices, but other segments may benefit (like automobile tyres, paints, oil marketing companies etc.) and other petroleum-based segments like logistics etc.
Hoping accordingly. Nifty may look for + 0.5% of Nifty levels. Sell on upper levels possible. Traders must use stoploss.
Indian Currency
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