Daily Forecast – Share Market – November 4th, 2024
Nifty may test 24250 and look for 24400 | Use the day for Intraday
US Elections giving shakiness
Saturn, Rahu with Mercury are leading the day, well supported by Moon (Neech) and Mars (Neech). Importantly, three planets are transiting from their debilitated sign (Neech rashi), and two planets are in their retrograde (Vakri – Ulti chaal) movements, which may give sudden surprise on/till tomorrow.
Nifty may test 24200 and plan for 24400. Reasons are Banks, financial institutions metals and overall movement of Rahu can surprise on either side and give wave of its choice. So, be prepared to capitalize the intraday advantage (possibly).
Crude oil may remain within the range of 70-75 USD despite of trouble in the area. This indicates that demand in the market is on lower side, affecting manufacturing etc.
Even then, IT, communication, chemicals, alcohol, non-traditional, renewable energy, power, sugar, textiles (may slow down), watch banks and financial institutions, Keep a watch on FIIs, also keep a watch on FPIs (Foreign Portfolio investments) and investors and many more.
Inflation is still high, especially edibles, that may further impact on the demands of other segments. Watch Gold.
Nifty may remain within the range of 24400 and test 24250
Indian Currency
Indian Rupee may trade in between 83.60 to 84.20 per USD.
** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
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