Daily Forecast – Share Market – December 9th, 2024
Emotions better | Nifty Stoploss @ 24500 and look for 24725
Saturn with Sun leads the day, well supported by Moon, Rahu, Jupiter (Rx), and Mercury (Rx). The indication for the day is that, lord of banks and financial institutions has come out of total combustion stage, so chances of banks and financial institutions may remain better.
It will be better to have strict stoploss at 24500, emotions may remain positive. Buying at lower levels may be seen.
Global cues may be bit better related to South Korea and Syria, whereas geo-financial data (especially from US) – better, but shall we rely only on foreign issues. Our situation is not interesting. But Budget preparation by giant traders is on. So, the market may behave accordingly. Be watchful.
Nifty may look for 24750. Banks may show recovery in the coming time.
Keep a watch on midcaps and small caps also.
Nifty may show some better movements. Even then stoploss will be better. Keep a watch on FIIs and trade deficit, along with inflation. Nifty Stoploss at 24500 and may try for 24725.
Indian Currency
Indian Rupee may trade in between 84.30 to 84.80 per USD.
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