Daily Forecast – Share Market – October 22nd, 2024
Nifty may test 24650 and look for 24850 | Watch Foreign cues/news from foreign agencies
News from govt. agencies important
Rahu, Mars and Saturn are leading the day, well supported by Moon with Jupiter. Controlling by afflicted planets will be the key issue during the day and in coming period also. Nifty is still in the mood of volatility and give some surprises.
Ups and downs can be seen, possibly because of Rahu and Moon. Normally this gives waves, but retrograde Jupiter may reverse the tempo of high wave. Even then there will be tug of war between Rahu (sudden wave) and retrograde Jupiter to reversal the trend. Trade with strict stoploss. Remember, US and China both are not in strong position, we are also not healthy in terms of purchasing capacity – which gives direct impact on demand and manufacturing, secondly, our trade deficit is again on the increasing side. We may see news related to car/automobile exports, but other areas are on the down side. Because of poor demand (globally).
Prices of crude oil is not increasing (astrologically – retrograde Jupiter), despite of middle east trouble and issues related to “Oil industry clashes with California’s Regulatory Environment”. Prices are roaming around 70-75 USD. Even if it falls then will not be a surprise for me.
Use the wave on either side and book profits as and when required. Pressure of foreign nations can be seen on our Judiciary or working or leader of cabinet or cabinet. So, Market may behave accordingly.
Nifty may look test 24650 and look for 24850. Stop-loss at 24600 will be better.
Movements in all the segments can be seen. It will be better to focus on defense related sectors.
Bordering areas needs better attention, because Neech Mars is in the area of Border. That means issues may get either solutions or some troubles – infiltration or direct etc.
Watch banks, financial institutions, IT, alcohol, sugar, chemicals, automobile and many more may be showing movements. Yesterday market was around close to the Friday’s figures.
Indian Currency
** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
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