Daily Forecast – Share Market – July 16th, 2020

Mixed day possible | Buy on dip will be better

Sun is leading the day with support of Mars, Saturn, Jupiter, Rahu, Ketu, and Moon. Indications are mixed with possible positive moves. All the planets are active during the day (directly and indirectly). Market is waiting for the news from Pharmacy companies related to the vaccine related to COVID.

IT may be better, there are two reasons, one is astrological and next one is – during the lockdown period, IT was working with 80-90% of their normal working, they had saved running expenses (only fixed expenses were on), many companies have deducted 10-40% of salaries of their employees in the name of covid.

Lord of the share market and banks in own house, but in the axis of Rahu-Ketu. I believe, banks have done well and got support from government and RBI, but issue might/may be related to their NPAs and working style. They are also not giving proper response to retail customers, enjoying in the name of COVID19. I am sure judicious Saturn will do justice with them also. So, be watchful with banks also.

Automobile and ancillary may be showing momentum; but will this be long term – demand in rural will not be surprising, because during the lockdown, they were benefited (directly or indirectly).

Index may be close to flat or may give mixed results. Market may be trying to hold levels and will be in the range.

Almost all the segments may remain active on either side, reason is Rahu & Ketu can give volatility.

Look for opportunities on dip. Market may be showing movements in coming period. Still I believe, we may miss some chances due to the shasak of Finance ministry.

Indian Currency

Indian Rupee may trade in between 75.10 to 75.90 per USD.

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