Nifty Prediction : Nifty may look for 11350 | Pressure or Mix emotions on Upper levels

Daily Forecast – Share Market – July 29th, 2020

Nifty may look for 11350 | Pressure or Mix emotions on Upper levels

Mars with Saturn is leading the day, well supported by Mercury, Venus, Sun, Jupiter, and Ketu. Two planets are retrograde. Foreign cues may be hurting local sentiments (if, then will not be surprising). This may affect the positive mood of the market and pressure can be seen on rising of Index levels. This may give close to previous day’s opening or may not allow proper rise, even though technical may be supportive.

Nifty may be trying to hold levels above 11300.

Few companies might have affected due to production restrain during the period of lockdown, but then should be happy that their most of the old stock was consumed by the market, because of non-availability of all the ranges. Such companies may try to show dip in their margins to avoid their working for the previous ups and downs. This is applicable in many areas or companies, to avert their reputation or poor performance of 2019-20 – right in the name of COVID19. Same is with GDP growth.

Today, results are waited for various companies. Which may give mixed impact (prior to announcement and after announcement) can be seen during the day. Global sentiments may be influencing the market.

Many segments may remain active. I will be again looking for opportunities on dip for good companies, especially defence related, IT, chemical, electronic and electrical areas with entertainment (digital bases), e-commerce, logistics, container manufacturer etc.

Areas for Cement, tiles and likewise companies for the coming period, with Hospitals, healthcare, with laboratories may remain active.

Indian Currency

Indian Rupee may trade in between 74.40 to 75.20 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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