Daily Forecast – Share Market – July 8th, 2021

Market looking for direction | Range bound like previous working day

Moon, Mars with Mercury is leading the day, well supported by Saturn, Rahu and Jupiter. It is evident that foreign cues are important for the day. Moon is heading for the combustion with Sun and enjoying conjunction of Mercury. This may give moments in banking and financial sector (chances).

Two planets are retrograde, and Rahu is also playing important role because of its placement. Unpredictable moves or lack of stability or trying to form stable support for the market can be seen during the day of weekly expiry. Market is revolving around same range of 200 points of Nifty.

Impact of government’s reshuffle of ministry will not be a surprise. Even then Nifty is preparing for 16000. Crude is also bit down. Currency is holding same levels.

Foreign cues may be bit tough or mixed. Opening may be like previous working day and can replicate last working day’s movements (this will not be surprising). Market is looking for direction.

Banks, IT, communication, web based services, service industry, electrical machinery, with electronics equipment manufacturer may give some opportunity, if so then avail for the coming days. Still, market is indicating buy on dip basis. Is central government trying to give a message that performers will be rewarded and non-performers will be punished, if so, then is for rajdharm. If it is so, then is good for nation.

Range of (-)150 and (+)50 points for Nifty is important. Indications are clear that market is transiting within range. Rahu can give race or dip unexpectedly. Deception is because of retrograde Saturn and Jupiter.

IT, communication, logistics, aviation, transport, power, web-based segments, automobile segments, agriculture, sugar, textiles, leather, export related, banks, financial institutions, chemicals, leaf-based, rubber, solvents, Pharmaceutical, health care, many more segments may remain active. Keep a watch on mid-caps and small caps. Momentum in maximum segments (either side) can be seen during the day.

Trade and avail advantage at better rates (if available).

Indian Currency

Indian Rupee may trade in between 74.00 to 74.90 per USD.

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