Daily Forecast – Share Market – December 7th, 2018

Recovery from lower levels | Trimming on upper levels

Mercury, Jupiter and Rahu are leading the day with support of Saturn, Venus and Sun. Mercury has started transiting direct, but speed is slow, still can change the direction of the market. Only point of concern is Strong Rahu is also active, which may give pressure or odd mood to the market due to some odd or unknown reasons or panic. Mercury lord of share market will try to hold its base. Crude may be playing its role.

I believe that Nifty and banks may try to hold their positions and improve during the day, even though news or side impacts may give ups and downs or give indications for losing confidence in the positive mood. Still, situation may not be so bad. Nifty may show some recovery from lower levels, similarly banks may be showing very strong market after a moth for 20 days.

Petroleum, gas, INR, may be showing impact on the market. Global cues will also be playing important role along with local political situation.

Movements in banks, financial institutions, textiles, paper, pharmaceuticals, FMCG, products linked with production of crude/petroleum/gas etc. like seamless pipes may be showing better moves in coming period. Banks at lower levels may be better for coming period.

In coming days, announcements from government may also be showing moves. Closing hour will be important, before carrying position for short term – it will be better to be watchful, because coming period will be influenced with election results.

Indian Currency

Indian Rupee may trade in between 70.30 to 71.10 per USD.

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