Daily Forecast – Share Market – January 29th, 2025
Nifty may look for 23000 | Stoploss at 22825 better | Watch banks n IT
Calm and quite market waiting for Budget speech | Results important
Jupiter, Moon and Sun are leading the day, well supported by Saturn. Lord of cabinet is within one navmansha distance from Rahu, so big Dikhava or confusion is expected. Since, Jupiter will be close to change its direction of movement, that means treasury related news may also be slow and not much encouraging (treasury means budget), I mean market may not expect much.
Global market feels uncertainty because of Terrif movement by US President, since he is re-elected. Whereas US market may show some movements. Chinese and related markets are closed for the week.
Only three days for budget speech by FM. In between two trading will be seen before budget speech. Market may try to respond such event. But lord of treasury (naturally) is slowing down speed for us. Our strength of foreign reserves and consumption theory is now on negative side. Secondly, trade deficit is another cause of concern. Our manufacturing zone is not prepared to compete with foreign market, may be because of costing of energy, internal taxes and not allowing the market to increase their production and introduce more industries to resolve the unemployment issues. IT is now choking in India (for a while). Companies are not planning for new ideas after growing so much in the past 45 years.
Nifty may try to look for 23000. It will be better to have a stop loss at 22825.
Now time to wait and watch the outcome of Haluwa ceremony on 01-02-2025.
Even then possibly some movements in the market will be seen (as pre-budget movements). Crude oil may still remain within 80 USD. INR may show weakness.
Indian Currency
Indian Rupee may trade in between 86.30 to 86.80 per USD.
** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
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