Daily Forecast – Share Market – August 24th, 2020

Nifty may look for 11425 or so| Buying Opportunities in dip

Ketu with Venus is leading the day, well supported by Sun, Mars, Jupiter (Rx) and Rahu. Important will be closing time of the market. Market seems to be still in comfortable mood, even though indications from foreign cues may be bit mix. We are in the last week of eighth month of 2020. Market is looking to look for 11425 or so. Important is – US election in coming months.

Globally, return of CORONA is seen. Indications are that we must learn to live with this Pandemic, at least till January 2023.

We may look for 11500 in coming week. But if any sharp dip comes look for buying opportunities in coming days also.

Coming period may show movements in sea related areas. Also look for the announcements from government. It means look for opportunities in the areas like seaports or likewise segments.

Automobile, two wheelers (especially because of rural areas), IT, logistics, communication instruments, electronic defence related gadgets manufacturing, defence, leather for the long run and Textiles + paper.

Weakness can be seen in leaf-based segments.

Emotions positive for the market. Any sharp dip – look for buying opportunities in the market.

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.