Daily Forecast – Share Market – December 3rd, 2024
Nifty may look for 24350| Stoploss @ 24100
Buying at lower levels and sell on rise possible
Mercury, Moon and Saturn are leading the day, well supported by Sun, Rahu and Ketu. Local issues will be important, including political and Judicial issues, along with emotions related to religion may be affecting the day and coming period.
Surprisingly, after dip in GDP (Q2), market has not reacted to the performance. Overconfidence or some other Neeti (Bhed neeti) had played the game. In such case, possibly we may see buying from the lower levels for the time being. The reason is Rahu and Ketu both are active. So, chances of deceiving or Volatility may be possible.
Now, market is trying to show some flexes to show common man that it may rise. It will be better to trade cautiously. At this point-of-time less profit is better than loss of money. Many people have earned good amounts during the period of the past 10 months. But the remaining have lost their money in the market.
IT, communication, space and related segments to communication instruments etc. may remain better. We may see better movements in IT after 50 hours, alcohol, non-traditional segments may get better focus, including AI related segments. Keep a watch on Automobile, and related segments like ancillaries etc. Lubricants, petroleum based segments may remain better for the time, reasons are low crude oil prices.
Banks and financial institutions – watch.
Nifty may look for 24350 but stoploss at 24100 will be better. Crude oil may remain around 70-73 USD. But INR may show some jhataka, and shortly look for 85 against USD.
Volatility is possible during the day.
Indian Currency
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