Nifty Prediction : Profit booking on upper levels expected |Buying at lower levels
Daily Forecast – Share Market – September 4th, 2018
Profit booking on upper levels expected |Buying at lower levels
Mars and Ketu are leading the day with support of Sun, Moon, Jupiter, Venus and Saturn (Rx), close to start transiting direct. This position of Saturn means that results from Judiciary and government authorities may not be fast. Functioning may be bit slow. Many decisions during this period may get reversal note or indirectly system may avoid in coming period. Trade wise, market is showing tiredness and needs some base formation and profit booking and buying for good equities at lower levels. Nifty is on margin levels. Slight slip may give sudden profit booking from top. Many equities have shown great run-up in previous 5-6 months – since first eclipse of the year and Saturn started transiting retrograde, but unrest to public.
Indian Rupee and Crude are important, which may affect the market at any point of time. I agree that Petroleum and gas companies may be enjoying advantage, but this may give some impact on other energies and companies in the long term, Impact may be seen in running period too. Insurance segment may get some advantage, but other related segments like automobile and hospital/health sector may be influenced. Housing may be affected in coming period.
IT, communication and Logistics may show some run, in coming period but may give some opportunity to add on at better levels.
Leather, agriculture, pharmacy and paper may be showing some pressure or laziness. Other segments like engineering, electronics and electricals may be bit tired. It will be better to look for better opportunity.
Trade with care in either side of direction, because major planet is going to change its direction of movement for us.
Indian Rupee may trade in between 70.50 to 71.30 per USD.
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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
Categories: Share Market