Nifty Prediction : Nifty may show weak movements | Nifty : (+/-) 50 possible

Daily Forecast – Share Market – August 1st, 2019

Nifty may show weak movements | Nifty : (+/-) 50 possible

Saturn/Mercury, with Venus and Jupiter are controlling the day. Mercury is at slowest speed for us, because will start transiting direct at 09:30 Hrs (IST). Jupiter and Saturn are transiting retrograde, Mars and Venus are combust. Pressure on currency can be seen during the day. Mercury is in own house/sign. Chances of banking and financial institutions may be bit better or may show signs of improvements.

Jupiter is also slowing down its speed, because is on the curve for us. Indications are that global trend may not be encouraging, and our local market condition or trade news are not encouraging. Nifty may feel pressure, but it will be better to be watchful. Expiry of the day may see some pressure and Nifty may see fall of 50 points. But Mercury will start transiting direct, which may support after a day or so.

Action can be seen in IT, communication, entertainment, transport and logistics, with Textiles, leather, FMCG etc. Leaf based segment may feel some pressure also.

I will like to look for opportunities at lower levels for only good companies. It’s a not a time to go for rash trading or buying. Many big players may mis-lead and suddenly we may see rise in particular stock and then chances of big fall in such company. Because they want to get rid of few stocks/companies or recover their values.

For long term investment, it will be better to wait for a while. Traders – if you have big heart, only then start swimming in this pool (current situation). This may give +/- 50 point movement in Nifty.

Indian Currency

Indian Rupee may trade in between 68.80 to 69.70 per USD.

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

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