Nifty Prediction : Pressure on market possible | Buying at lower levels possible
Daily Forecast – Share Market –September 5th, 2018
Pressure on market possible | Buying at lower levels possible
Ketu is leading the day with support of Rahu, Saturn (Rx), Venus, Jupiter, Mars, Moon and Sun. Saturn is close to change its direction of transit. Almost all the planets are playing their role. Market is in correction mode, Possibly, we may see buying opportunities at lower levels. Pressure in banking and related segments or profit booking on upper levels of banks possible, along with financial institutions. Run-up of the market was started with Banks, so it is bank, which is showing correction. Currency is also losing it’s base, heading for 72 against USD.
Petroleum is another point of concern for local business/manufacturing system, which may increase energy cost for manufacturing and may/might have hurt the sentiment of trade. But petroleum companies may be showing some gains as on date. IT companies may be bit better due to fall of INR, but other segments are affected with slipping of INR.
Movements in almost all the section can be seen. Possibly this may give fight back in the market, but market may trade with suspicion for coming period. Few companies may give opportunities at lower levels but avoid or get rid of weak equities. Trade with strict stop-loss on either side.
Trade bank with care along with reality and energy. Few power companies may give sudden dip.
Wine, spirit, alcohol, with renewable energy-based companies may be doing better for the day.
Trade with care on either side.
Indian Rupee may trade in between 71.10 to 71.80 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