Daily Forecast – Share Market – August 11th, 2020

Market emotions positive | May look for 11400 shortly

Mercury with Venus is leading the day, well supported by Rahu, Ketu, Sun and Mars. Market is holding levels. Indications for the market is comfortable, even though resistance levels are not so close for the time. Keep a watch on the announcements related agro-products. Or we can say that market is improving its resistance levels. In case any dip is seen then opportunities at 100 points less than the current levels of Nifty.

Banks are ready to move ahead. Its not a time to go for weak communication companies, mainly because of the policy of government. Possibly, we are again heading for monopolization of one private sector communication organization (is it good for long run or bad … time will say).

Agro-products may see some gains, especially due to the announcements from government, it will be better to watch announcements from government or may run on the basis of news only.

Companies related rural areas including FMCG, may be showing better run. Reason is cash flow in rural is better than the urban area. Middle class employees (engaged in table jobs or others, helping hands) are facing still tough time. KPOs and other related segments have reduced their such workforce, and similarly, IT or other areas have reduced worked force. They have lost their earnings. Which may directly hurting consumption theory of urban areas.

I will be looking forward for Banks, financial institutions, Jewellery, defence related areas including private sector companies, electronics and electricals may be for long term. Similarly many areas may be showing opportunities by the announcement of government.

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.