Daily Forecast – Share Market – January 8th, 2025
Sudden changes possible | Nifty may look 23800 | Stoploss 23600 Imp.
Saturn with Ketu leads the day, well supported by Sun, Moon, Rahu, Jupiter (Rx) and Venus. Moon is giving clear support to own house of IT, bank lord will be protecting own house, so chances are clear that levels of banks may remain protected.
GDP data (official) has indicated lower figures in comparison to previous data. Manufacturing data is also not as expected, that means it is low. Economy data is not convincing, as it was indicated in my earlier reports. Despite all such issues, our market is not giving big dip. Wait for budget, after that planets will change their positions, so may give pressure on market.
Wait, allow the Nifty to cross above 23800, which is possible in the coming time. Or short book profits as and when required. Wait for the period. Unnecessarily, why carry so long.
Today, Ketu may give surprises. Sudden changes possible.
Watch Iron and steel, communication instruments, instruments related to shipping (for communication), automobile, power, sugar, textiles, alcohol, renewable energy, non-traditional segments, fashion, IT, banks and financial institutions, leaf based segments including coffee and tea, rubber etc.
Nifty may try for 23800 but stoploss at 23600 will be important. Sell on rise possible, buying at lower levels. Crude oil may be inching towards upside for a while (before sudden changes in coming time).
Indian Currency
Indian Rupee may trade in between 85.30 to 85.70 per USD.
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