Daily Forecast – Share Market – March 7th, 2014

Market Heading for New Highs

Two planets from direct Jupiter and Jupiter is also indicating positivity for financial and banking area, that’s why Indian Rupee has improved its position with unexpected movements. Nifty has achieved or broke previous high, now point is will nifty be able to break 6500 point level or will see profit bookings.

I feel it’s a time to look for opportunities for profit bookings as and when required and look for the equities trading at lower levels in mid-caps etc. or selected PSU banks, trading at lower level.

I will prefer to book profit in Alcohol related industries, and selected communication industries. But on Monday few communication Industries and IT industries may give movements, or today also IT, Hotel, aviation, and media related industries may give positive movements.

Leaf and related industries may show some profit bookings – like tobacco and Tea industries. Vehicle and allied industries, mid-caps of infrastructure may also show some movements.

Pharmaceuticals, Electrical equipment related industries may also give some positive moves.

While making long moves – be watchful. Profit bookings as and when required will be good.

Since Rahu-Ketu are involved heavily, so trade with strict stop-loss

Indian Currency

Indian Rupee may trade in between 60.70 to 61.60 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.