Daily Forecast – Share Market – August 28th, 2020

Nifty may look for 11625 | Defence/Housing finance better

Ketu with Venus is leading the day and well supported by Mars, Sun and Jupiter (Rx). Indications are clear that market may still look better and may try to look for 11625 or so. Banks are still look better, on September 2nd, 2020, Mercury will move in own sign, that means may try to hold the levels or protect banks and share market. Also, may look for children of nation – means public. So, I feel that if any dip is seen in the market, opportunities for buy will be important.

Currency is showing improvement, because of fall in the strength of USD. Reason is – US government is pumping liquidity in the market, due to unemployment etc. so that, demand in the market may improve and give opportunities to improve productions, generate job opportunities and get back economy on track.

Corona cases are rising in India amazingly fast; one reason is our carelessness and second is testing is reflecting the same. Our strong point is recovery rate, which is 76% or so.

Reality, infrastructure, power, defence, metals, crude is under pressure, housing finance related institutions, banks and financial institutions (for coming period) may be giving opportunities. Automobile accessories, tyres and batteries are also looking decent along with rural linked automobile like tractor, two wheeler.

Still, proper demand is awaited, due to unemployment and cut in the salary. Only in rural areas, liquidity is better than a common honest tax payer. In many areas, Honest Tax payer had to shift their children from Private schools to government schools, which has reflected better admission data in government schools, this is because of non-paying capability of many parents in Private schools. (This is one of the examples – data is not available, only personally got the information).

Look for opportunity. Global tension is not liquidated. Market may look for 11625 or so.

Indian Currency

Indian Rupee may trade in between 73.50 to 74.30 per USD.

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