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Daily Forecast – Share Market – October 18th, 2024
Nifty may test 24700 and look for 24850 | Wait n watch – move
Watch FIIs | Foreign cues – Geopolitical issues Important
Mars, Saturn (Rx) with Rahu are leading the day, well supported by Ketu, Moon and Jupiter Rx. Volatility and sharp moves possible during the day. Lord of foreign market is ready to move in Neech rashi. Impact of foreign political issues may be seen in coming time.
Our own market is trying to read the situation for the coming period. Reason according to astrologically, two important planets will be in Neech rashi, and two important planets may remain retrograde – disturbed, Saturn and Jupiter are returning to base. Practically, market is based on demand of products and relationships for other nations for business development.
Market may show some pressure on upper levels. Nifty had breached 24800. We may see some volatility, profit bookings – no panic. Few stocks have faced lower circuits on previous working day. But still, I am hopeful of fair trading. Profit bookings possible, but buying opportunities will be available. Wait and watch even in coming time.
Mining, metals (yellow and white) may remain interesting. In India, festival is ahead, so for Indian market, gold may have better opportunity along with silver.
Crude oil may try to hold around 75 USD. INR had breached one level, that means further pressure on many issues.
Areas like alcohol, aviation, IT, logistics and related segments, communication, power, reality, infrastructure and related segments, sugar, engineering, shipping, sea related segments (may show ups and downs), Pharma – area may show volatility, and many more may remain active on either side.
Nifty may look to breach 24700 and try for 24850. Casual traders, before buying, look for an opportunity.
Indian Currency
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