Daily Forecast – Share Market – August 19th, 2020

Nifty may look for 11450 | Buy on dip opportunity | Enjoy session

Ketu is leading the day, well supported by Rahu, Venus, Sun and Mars. From past few Wednesday(s) market is showing mixed day. But I feel that due to strong Ketu, other planets are also playing their role directly or indirectly. I believe that gold is still better. It gives multiple opportunities for traders. Lord of share market is coming out of shadow of Sun, may give strength or position for the next launch on upper side.

Since, US government has increased liquidity, resulting (possibly) better position of INR. Keep a watch on US-China exchanges.

I feel that market may have some better moves, with buy on dip will be better. I agree that chances of sudden ups and downs are not denied. So, stop-loss will be better. But buy on dip will be better. Keep a watch on announcements from government, because in the current period, news from government or foreign cues are giving movements in the market. Reason is consumption is not even at normal levels.

Defence related segments and areas are important in all the senses. Areas related to manufacturing spares for aviation/auto or for any surface transport. E-commerce and logistics, e-commerce base Pharmaceuticals supply chains, laboratories, research and development, infrastructure, automobile, automobile tyres etc.

Sugar, textiles, banks and financial institutions for opportunities at better levels. Cotton, radar, electronic and electricals, aviation related (ATC related) equipment manufacturing sectors, communication instruments may remain active in coming period.

Enjoy the trade, buy on dip (if). Market seems comfortable and look for upper levels like 11450 or so. Keep a watch on FIIs.

Indian Currency

Indian Rupee may trade in between 74.20 to 75.00 per USD.

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