Daily Forecast – Share Market – August 4th, 2020

Buying at lower levels | Wait for settle down market

Mars with Mercury is leading the day, well supported by Ketu, Sun, Venus, and Saturn (Rx). Market has played tricky on previous working day. Foreign cues will be important, banks may not be dependable for a while, PSU banks may show some support. I am still positive for IT segments. Market may show some recovery from the lower levels, but before going for gap-up buying wait to settle down the market above 11000 levels of Nifty.

Otherwise chances of slipping down to 10800 levels will not be surprising in coming period. But it will be better to check technical and fundamental study.

FIIs had played their role in previous day (as mentioned in my report), again keep a strict watch on news from foreign nations.

Activities can be seen in Pharmaceuticals, laboratories, results based companies and FMCG, with fast food related companies. It will be better to keep a watch on automobile, defence, electrical and electronics, metals sugar, textiles, leather with so many other segments may remain active,

Trade with caution. Although positive moves can be seen from lower levels.

Indian Currency

Indian Rupee may trade in between 74.50 to 75.30 per USD.

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