Nifty Prediction : Turbulence possible | Consolidation and Market may look for Jump

Daily Forecast – Share Market – August 10th, 2020

Turbulence possible | Consolidation and Market may look for Jump

Mercury with Ketu is leading the day, well supported by Rahu, Venus, Sun, Mars, and Saturn. Foreign cues may not be as important as were in previous days, but this does not mean that we can ignore foreign cues and Geo-political situation. Indications for the local market may be close to flat or may show some ups and downs. Market is not in negative mood, or better to say is still in better mood and emotions.

Nifty may show some consolidation and recovery from lower levels in coming period. If market will take a jump in coming period will not be surprising. Keep a watch on institution’s trading, they may be playing important role during the day. Even then turbulence during the day will not be surprising.

If I say that market is forming a base and looking to take a jump in coming period. Keep a watch on Judiciary decisions or judiciary statements, which may affect area if communication.

Defence, electronic and electronic companies related to defence etc. will be important for the day. Traders may enjoy the day. Textiles, Polymer, Pharmaceuticals etc. may show some movements and may sow for the coming period.

Leather may be showing impact due to previous lockdown. Otherwise market for leather goods for long will be better. Hence, long term investors may look for opportunities at lower levels (good companies).

Enjoy the day for consolidation and avail opportunities as and when possible.

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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