Daily Forecast – Share Market – November 18th, 2024
Nifty may show sell on rise | Watch banks and financial Institutions
FIIs and DIIs important along with results of companies
Saturn with Mars is leading the day, well supported by Moon, Rahu, Jupiter (Retrograde), Mercury and Venus. Behavior of leader of the cabinet may show some sudden different, new announcements can wait. Volatility in the market is probably because of Political involvement in the elections under process.
It is also fact that ruling party (group) may regain their desired seats or combinations (new political combinations). I feel after that chances of setting the direction can be seen in the market.
Stoploss at 23450 will be better. Market may show recovery from lower levels and still sell on rise will be seen. Nifty is closing marginally low from previous closing, that means still emotions are not positive for the market/traders.
Banks may show some rise, remember, before adding new in your portfolio, it will be better to cross check Deposits Vs debts (and RBI norms), this can help for the future. Banks and financial institutions are playing with the guidelines.
Keep a watch on IDFC first bank, chances of foreign investments in coming period.
Chinese companies are looking for long term investors from out of China, and their results of Q3 is attracting the investors. Whereas our results of Q2 are not encouraging (of various companies). IT may show some movements in coming 72 hours.
Indicating issues related to results, geo-political, foreign cues related to business will be key for the day. Whereas Sun has moved to better position, in Mitra sign. So, in coming time possibly some movements related to automobile may show opportunities at lower levels (because of results – but it will be better to read commentary details of the results).
Chances of further sell on rise are possible. Crude oil is still maintaining levels around 72 USD. Japanese markets may not be giving positive indications. Watch and be careful for the sell on rise.
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