Nifty Prediction : Nifty may look for 16550 or so | Ups and downs also expected

Daily Forecast – Share Market – August 24th, 2021

Nifty may look for 16550 or so | Ups and downs also expected

Moon is leading the day, with support of Saturn (Rx), Mars (C), Jupiter (Rx), Sun, Venus and Ketu. Seven planets are directly active, indirectly entire horoscope is active. It means activities in maximum segments can be seen during trading session. Importantly, Lord of horoscope’s lagna and council of ministers is placed in the debilitated sign, which is house of share market and giving strength to the house of gains. Indicating that it will be better to keep a watch on the news from government or council of ministers or related areas. Impact of two retrograde planets can not be ignored, indicating forward movements with some backfoot moves. Even then chances are for positive day.

Foreign cues and Geo-political situation need a close watch.

Indications are positive for the day, even then due to geo-political situation, it will be better to trade with stop-loss or trade with a strict watch, reason – we are close to monthly expiry.

Crude is under control in comparison to past one and half month prices, which is positive for our economy and industries, with a hope benefit of reduction in crude prices will be passed on to the market (chances are less).

Technologies, automobile, communication, automobile, Petroleum related areas, research laboratories related to Pathology, automobile ancillary, automobile tyres, bicycles (manufacturer of higher range cycles), ready made garments, fashion industry, leaf-based, coffee, rubber, lithium batteries or non-traditional segments, renewable energy, alcohol, textiles, leather, chemicals, space, defence etc. may remain active along with sugar.

Nifty is ready to recover from the lower or better to say may look for previous levels.

Nifty may look for 16550 or so.

Indian Currency

Indian Rupee may trade in between 73.90 to 74.70 per USD.

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

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