Daily Forecast – Share Market – July 20th, 2020

Nifty may look (+)100 points | Consolidation also possible

Sun is leading the day with support of Jupiter (Rx), Saturn (Rx), Moon, Mars, Mercury, Rahu and Ketu are active. Cues from foreign markets and geo-political will be influencing the market, apart from the performances of companies (results). Market may be waiting for forming a launchpad for the next levels of the market. Reason is lord of the share market, bans and financial institutions is in own sign. Giving strength to their respective areas. Secondly, except Venus all the planets are active. Wave will not be surprising in coming period.

I feel even if market may go for consolidation of base and prepare to move in 11000 area. It will be better to consider as a next target for the market. It is also fact that restrictions may be seen just below of 11000 levels of Nifty. That means buy on dips will be better way of moving in the market.

Government may look for revenues by various methods in coming months (may be releasing shares or some other ways).

Covid cases are alarming. Alert for Community spread. State governments must go for mass testing to check the Pandemic.

Banks, financial institutions, power, infrastructure, automobile, automobile ancillary, metals, petroleum related segments, IT, communication, e-commerce, logistics, textiles, leather, FMCG and various segments like leaf-based, dairy and so many areas.

Enjoy trading and investment for mid-term and long-term equities for good companies only.

Indian Currency

Indian Rupee may trade in between 74.60 to 75.60 per USD.

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