Daily Forecast – Share Market – January 16th, 2025
Nifty may look for 23300+ | Stoploss will be important
Foreign cues better including Hindenburg news for Certain companies
Sun with Jupiter leads the day, well supported by Saturn, Moon, Mercury, Rahu, Ketu and Venus. Almost all the segments are active directly or indirectly. We may see some sudden volatility in the second half of the day or change of the emotions of the big wigs.
Even then possibly Expiry day can give better levels in comparison to the previous days of trading sessions (like Monday, Tuesday etc.).
Global news may also give some interesting indications to the market. Like news related to Hindenburg may give boost to Adani and related companies. International cues are better, including banks results from US may also encourage the market, because this can give support to the companies related to IT/Tech. companies.
Many segments may be showing movements. Keep a watch on Midcaps, banks and financial institutions along with small caps. Banks, Financial institutions, Pharmaceuticals, and IT along with communication system. Nifty may show positive side movements. But this does not mean that base stoploss can be avoided. Anyways, from Next week market will start showing movements in a better way.
Nifty may look for 23300+ but stoploss of 23150 will be important.
Indian Currency
Indian Rupee may trade in between 86.00 to 86.70 per USD.
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