Daily Forecast – Share Market – November 13th, 2024
Weakness – in Buyer’s mood | Stoploss at 23725 (Nifty)
Sell on rise possible | Nifty may show weak sentiments
Saturn retrograde, at the slow speed with Mercury leads the day, well supported by Moon, Mars, Rahu, Ketu and Jupiter (Rx). Trades may show some movements on the upper side. Exchange of Venus and Jupiter can give deception. Many segments may show movements with laziness in automobile, automobile tyres, and other Shani related segments.
Suspicious movements not a surprise. I mean sentiments may remain suspicious and sell on rise policy may attract the traders. This is not the time to enter in any new trade. It will be wise to watch.
Global cues may remain tough. Local issues are again not decent. Nifty may show impact of such issues accordingly. Inflation and other data are not supportive. Remember, day after tomorrow’s trading hour, market may look for decisive direction, because of transit of Saturn.
Watch sugar, Iron and steel, Fertilizer and Pharmaceuticals and insurance etc. Banks, IT, automobile, Petroleum exploration and others may be showing some direction for the day.
If Nifty breaches 23725 then stoploss at 23500 will be better. On the upper side, in coming time nifty may try for upper levels, but at strong profit booking chances (Ruka hua trade) at 24300 may show strong profit bookings. Buying after 24400 will be bit safe.
Crude may remain around 70-73 USD. USD is going strong. Keep a watch on VIX.
Volatility at any moment will not be a surprise.
Strong chances of Volatility. But the sentiments are not good. If there are any upside movements, chances of trap or strong chances of profit bookings on upper levels.
Indian Rupee may trade in between 84.00 to 84.60 per USD.
** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
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