Daily Forecast – Share Market – January 30th, 2025
Cautious upside movements possible | Results and News based opportunities
Jupiter, Sun with Moon lead the day, well supported by Saturn and Mars (Rx). Lord of foreign lands may have some impact to the market. Wait for the FIIs movements and news from foreign nations.
Lord of lagna is just one Navmansha away from Rahu, that means on the budget day both will be within one degree distances. Indications are that confusions and possibly some announcements may be seen for various reasons. But will this be in reality or just a pack of words, this may be difficult to comment. Anyways, lord of treasury will be close to its very slow speed for us, so, market should not expect high vision from the budget. Secondly, this will be first budget of a government, based on alliances. So, some regional areas may get the advantages. But long term may decide, every aspect of the budget.
I feel market may not be much encouraged after this budget or we can say that already market has discounted such weak expectations.
Movements are possible. Buying from lower levels in selected areas. Infrastructure, and related segments may show some movements. Nifty may try to show buying from lower levels, but watch the trade with care. These trades can be for the moment of budget.
News and result based market is possible. Look for slow and up side movements.
Watch IT, Pharmaceuticals, health care, shipping areas etc. Textiles and leaf based, travels and tourism, railways or related segments.
Nifty may try for 23200 or so. Stoploss for the coming period will be better. Enjoy trading sessions with cautious but want to look for opportunities type of emotions.
Crude oil may remain around 74-77 USD.
Indian Currency
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