Daily Forecast – Share Market – July 8th, 2019

Initial pressure possible | Nifty indicates – Wait & watch

Mercury has started transiting retrograde, also involved in planetary war with Mars. Mercury is defeated in planetary war. Sun is heading close to Rahu in the house of banks and finance. Saturn, Jupiter and Venus are leading the day with support of Mercury, Sun and Rahu.

Indications for banking and finance are not decent. Due to some or other reasons, few banks may be showing pressure. Current one year may further disclose issues of NPAs or some leakage in banking or financial system. It will be better to take care.

Value of last closing will be important, because Nifty may once again show the same value before expiry of the month.

Movements (either side) can be seen in automobile, automobile tyres, petroleum, non-traditional areas, banking and financial segments. Infrastructure, communication, IT, logistics and related segments may be showing movements. It will be better to look for good equities at lower rates. Few PSU banks may be disturbing bankex.

Keep a close watch on geo-political movements and FIIs. Currency is holding its position. Volume of the trade may be not so high. Foreign trades may also influence our market.

Pressure or selling can be seen during the day.

Indian Currency

Indian Rupee may trade in between 68.10 to 68.90 per USD.

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