Daily Forecast – Share Market – September 20th, 2024
Nifty may plan for 1% movements (Upside) | Buy on dips better
Mars leads the day, well supported by Sun, Moon, Rahu, Ketu, Jupiter, Saturn and Venus. Directly seven planets are active, indirectly entire horoscope is active. Movements in all the segments can be seen. Major impact can be seen due to foreign issues or cues.
Impact of Lunar eclipse was seen on US market – a high range market, which may be influencing our market. I feel market may show movements around 1% or so.
Impact from foreign cues may remain positive for the day. Local issues are tough for the common person. Theoretically, data released by the agencies looks decent. But job and inflation had negatively influenced our market. Even then Nifty may try for new levels in coming time or before some corrections.
Banks and financial institutions may remain active and supportive. Keep a watch on metals and IT etc. FIIs can be weak point for the period.
Remember market may be trying for the new levels in coming time. Global cues are good, they may be influencing our market for the day.
Selling on upper levels also possible. Buy on dips for the time is better.
Banks, financial institutions, textiles, leather, IT, communication, space, power, renewable energy, solar energy, infrastructure, alcohol, sugar, communication instruments, chemicals, cotton, silk, engineering, electrical and electronics etc. may remain active with many more like leaf based segments etc.
News from foreign agencies or somewhere may be important, but I do not know, how much such news will be influencing our market on the current scenario at least for the period.
But this can be an alarm for long-term investors to be watchful for the coming time. And invest or trade (long with the careful and watchful ways).
Nifty may look for new levels and movements can be for another 1% in coming time. Crude oil may further show some upside movements and may remain within 72-76 USD.
Indian Rupee may trade in between 83.30 to 84.00 per USD.
** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
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