Daily Forecast – Share Market – September 3rd, 2020

Nifty in range of 11350 to 11650 | Look for Opportunities

Sun, Ketu, Venus and Jupiter (Rx) are leading with Mars. Indications for the market are not based, but news from Chinese financial institutions may not be comfortable, but this may not be much influencing India. Mood is cautious, market emotions are strong, but legal issues related to banks etc. are important for the direction of the market. Keep watch on Judiciary’s decision related to banks etc.

Keep a watch on Institutions (foreign). Market is inviting on the dip. Nifty is ready to hold the bases at (-) 200 points. That’s why market is cautious on the weekly expiry. Market has strength to pull on upper levels.

Crude is low, currency in better position, resulting Gold under control.

Strength of Banks Vs Real estate or likewise other sectors which are in bad position. Needs support from banks or government or financial institutions. Only point of concern is that Shasak of Finance Ministry is unable to bring something out of the box to control financial situation. We did not have any real economist as finance minister since past six years or so. Ultimately, we may pay more price for that.

Unemployment is rising regularly, affecting Urban areas, where real consumption for electronic, electrical and other sectors were seen in previous days. This may hurt passenger tyre sales in coming period.

Still market is not reflecting the fact of such areas.

Look for opportunities in dip. Paper may see some pressure. Any segment lined to rural area may show better moves. Keep a watch on the segments which are heavily relying on Urban areas like (eg.) AC manufacturer or others (likewise)

Nifty may look for 11650 or so, but be prepared for 11350 also.

Indian Currency

Indian Rupee may trade in between 73.00 to 73.80 per USD.

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