Nifty Prediction : Looking better to hold levels | May look for 11200 of Nifty

Daily Forecast – Share Market – August 6th, 2020

Looking better to hold levels | May look for 11200 of Nifty

Mars with Mercury is leading the day with support of Venus, Sun, Mars, Saturn, Jupiter and Rahu. Indications are that cues from foreign market or geo-political issues may play role during the day, whereas local issues may be looking for the announcements from government or its agencies or banking authorities etc.

I feel that market may look to hold the base for next another 100 points of nifty. It will be better to book profits on the upper levels as and when required for Nifty traders or intraday traders. For investors (looking for long may look for opportunities at lower levels of banks, defence or others available at lower rates).

Long term investors may wait for companies like Escorts, Mahindra and Mahindra etc. because they had good run after March 24th 2020. Wait to cool down (for such companies).

Textiles, silk, banks and financial institutions may give an opportunity at better levels for long. Chemicals, defence, infrastructure, power, agriculture and related segments may be doing better for the coming period.

Nifty may look for 11200 or so and try to hold the levels at lower side of 11000

Indian Currency

Indian Rupee may trade in between 74.50 to 75.40 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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