Daily Forecast – Share Market – July 30th, 2019

Positive opening possible | Be watchful | Planetary position not positive

Three planets are retrograde, Mercury lord of share market is at the slowest speed and on the edge of moving back to Gemini sign after 13:27 Hrs (IST). Indications are that banks may show some movement after this period and Mercury is ready to start transiting direct after its slowest speed in Gemini sign. Venus is heading closer to Sun, Mars is also combust. Hence, Market is not getting much of planetary support.

Only point is crude oil prices. Otherwise, Geo-political and trading situation is also not comfortable, along with our own market slow-down. Automobile, banks and other Key sectors are facing lack of consumption in the market.

Market is nervous, FIIs (due to Mars) are on selling mode. They are not pumping money in this market trend, where banks are weak because of their own issues, automobile is also down due to poor requirement in the market, which had brought down other affiliated segments, engineering, and so many. IT is facing global issues, they are stuck to Job work (I am sorry for this down grading language), I mean depending on other countries work, which is tough now. We have not focused on developing our own work and selling in the new areas. IT company has to think big and move ahead. So that, job sector and other related areas will be in the limelight as it was earlier.

Nifty may try to look for positive start. But will it be flat market or now market may try to look for upward moves after such a great correction of last 12000+ levels of nifty. Still, few countries may try to strengthen their currency with holding Gold or buying Gold, to encounter global trade war in coming period or some other pattern to strengthen their currency.

Trade with care for some more period. Wait for long term openings or averaging your equities etc.

Nifty may look for some opportunity to get boost from the local market. FIIs are not supporting currently (Mars is not comfortable).

Indian Currency

Indian Rupee may trade in between 68.50 to 69.40 per USD.

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