Nifty Prediction : Range bound trade possible | Keep an eye on Foreign/Currency/Crude

Daily Forecast – Share Market – August 31st, 2018

Range bound trade possible | Keep an eye on Foreign/Currency/Crude

Ketu is leading the day with support of Moon, Sun, Mars, Mercury, Jupiter, Venus and Saturn are supporting the day. Saturn’s movement is slowing down, Impact on Judiciary, government agencies can be seen in coming period, which may reflect on government too and their decisions. Market is looking for forming a base, that’s why, we may see some trimming or movement within range of 50 pints of Nifty on either side.

Eight planets are active and indicating that action in many segments can be seen. Market has shown a good run-up and after such run up and currency position with crude/petroleum can give some pressure on the upper levels. Still few good equities, which were under pressure due to some or other reasons during this run up, may show movements and gains.

Concerned issues for the market and trade are crude and currency. At first it is indicating movements in IT, but overall indications are that impact on crude, petroleum which may influence trade, manufacturing, commerce and agriculture too.

Indications are that market may look for buying at lower levels and profit booking at upper levels, hence may trade in a range.

Movements in many segments can be seen. It will be better to trade with care in PSU banks for long term. Possibly NPA’s or other activities may be influencing PSU banks in coming year. Infrastructure, power, vehicles, automobile with cement, tiles, paint etc. may be showing movements with IT, communication, engineering, electrical and electronics, crude/petroleum, shipping, Leaf based like Tea, coffee, banks and financial institutions may be interesting.

Indian Currency

Indian Rupee may trade in between 70.40 to 71.00 per USD.

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

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