Daily Forecast – Share Market – July 9th, 2021

Enjoy to avail advantage | Buy on dips will be better

Mercury, Moon with Rahu are controlling the day, well supported by Saturn (Rx), Jupiter (Rx) and Mars. Foreign cues may be influencing local market along with local issues. Chances of Negative impact from foreign cues can be seen time to time, it will be better to keep a watch on such issues.

Nifty is close to breach 15700. Impact of Amavasya can be seen related to share market and banks, because this Amavasya is linked accordingly. That means volatility during the day will not be surprising. It is a last working day of the week.

Mixed day possible. Still, fear of Pandemic and post COVID impacts on economy may be playing important role after 18-20 days (chances). Bulls are still strong, but market is still waiting for a direction.

Issues like unemployment and inflation and other issues related to post pandemic may be influencing our market. But still, I feel before a dip market may like to touch an upper level mark of 16000 of Nifty.

Trade cautiously, do not follow panic. It will be better to hold levels and buy on dip. Wait for the new levels on the upper side.

Gases, petroleum marketing companies and sectors which are working regularly – work from home basis since March 2020, will be in position to give better results, reasons are that they are enjoying non-stop or unaffected working even in Peak(s) of pandemic and regularly doing their work. Whereas other companies or areas had suffered their working, sale, and manufacturing. Only advantage was that they were in a position to liquidate old and blocked products.

Now, FMCG, online marketing companies, logistics, IT, web based areas, food related, agriculture based segments, automobile (commercial) and others, automobile tyres, textiles, leather, casual dress manufacturer, Cycle, with defence, space and air related segments may be doing better in coming period. Private sector or PSU linked with defence may be key for the coming period.

Trade to enjoy advantage from this Mixed market. Buy on dip will be better (still).

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.