Nifty Prediction : Will Nifty hold 10700? Unemployment is Key

Daily Forecast – Share Market – August 23rd, 2019

Will Nifty hold 10700? Unemployment is Key

Ketu, Mercury and Venus are holding the key for the day with support of Jupiter and Sun. Foreign cues and support for the trade may be missing. Venus is still in total combustion (close) status, trying to come out of one Navmansha distance from Sun. Indications for INR are weak. Gold may be within range. Crude is slowly and slowly picking up.

Issues related to consumption in the local market, employment and mainly due to cash flow of consumer may be hitting the market (even in coming period also).

Government is consuming time to give proper guideline to encounter such local and global slow-down. It’s nice to plan for 5 trillion economy, but ultimately public must have capacity to buy products. Banks (PSUs) must change their culture, that is costing bank nifty heavily and overall market also.

Petroleum, gas, IT, leaf-based products, (chances of) movements in automobile, infrastructure, cement and tiles with paints etc. banks and financial institutions are not giving proper support to the share market and as well to the local businessman/local nationals (except to farmers – under pressure of government).

As it was mentioned in my article on demonetization @, that impact will be seen after 21-04-2019.

China is also passing through planetary disturbances, which is causing geo-political issues.

Nifty may look for forming a base for a while, and show buying at lower levels. Nifty may try to hold 10700 levels. Trade with care.

Indian Currency

Indian Rupee may trade in between 71.20 to 72.10 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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