Daily Forecast – Share Market – November 6th, 2024
Nifty may look for 24800 | Volatility Possible | Look for Opportunities
Sun, Moon, Mercury (Rx and combust total) with Saturn are leading the day, well supported by Moon and Rahu. Importantly, Mars will start transiting retrograde from tomorrow so speed of Mars for us will be very low, impacts will be accordingly.
RBI’s credit policy will be announced today, market has moved around 24700. Inflation and dip in GDP might be influencing policy. This will be affecting movements of Nifty levels.
Pre-policy market may show movements – that means gap up opening policy. Volatility before or during the events. Possibly collapse or sudden changes in trade is possible during the policy commentary or after announcement of policy.
Watch banks and financial institutions etc. Remember, cashflow in the market is not as good as it was earlier. Or in simple words – liquidity in the market is poor.
We may see some reversal movements after tomorrow morning (IST) globally, possibly Israel may show active movements etc.
Foreign cues may also indicate either a dip or quick rise from the coming time, but I suspect it is because of the actual economic situation of majority of nations.
Crude oil may remain around 70-73 USD. Nifty may look for 24800, remember event and its outcome also. Nifty may show volatility during the day. Lord of share market will be total in coming days. Today is combust, so policy may not be encouraging.
Indian Currency
Indian Rupee may trade in between 84.50 to 85.00 per USD.
** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
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