Daily Forecast – Share Market – July 9th, 2019

Nifty may try to consolidate | Planetary Position not comfortable

Mercury and Mars are involved in Planetary war, but today Mars is defeated in this war. Jupiter, Saturn (both retrograde) and Venus are controlling the day with support of Moon, Rahu and Mercury (retrograde). Rahu and Sun are within one-degree distance in the house of banks and financial institutions. Lunar eclipse is ahead, again banks and financial institutions may be playing important role in the movements of share market.

As I have mentioned several times that period for banks may be tough and new issues may come-up. So, before going long or investing banking shares, it will be better to wait and watch. Crude and others may also be influenced accordingly.

Foreign issues/cues may will be trying to give a direction, but market is looking for own guidance. Impact of budget is also seen.

Pressure or panic feel can be seen. Wait for opportunity at lower levels. Nifty may look once again 11800 levels before the monthly expiry.

Movements on either side can be seen in petroleum segments, finance and banks, IT, communication, automobile with import and export. Sugar, agriculture-based segments, pesticides, and non-traditional segments may show some movements. It will be better to play defensive moves. Only advantage is that Mercury lord of banks and share market is winning planetary war, so some better moves can be seen during the day.

Indian Currency

Indian Rupee may trade in between 68.20 to 69.00 per USD.

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