Daily Forecast – Share Market – December 7th, 2021

Nifty may show +100 points | Recovery from lower possible

Sun with Mercury is leading the day, well supported by Moon, Mars, Jupiter and Saturn. INR is losing strength against USD. Global cues may be supportive. FIIs are not supportive, their selling process is giving weakness to the market. The way market got a run of more than 2600 points of Nifty, now adjusted about 1600 points of Nifty. But this entire may not get recovered but market has got the passage to reach again the same mark.

Pandemic in India with new variant is rising. We need precautions while moving out or meeting with someone.

Coming week may be a period for banking and financial institutions. I believe that from 10-12-2021, banks and financial institutions will be in better position and may start supporting market strongly. That means time for 17-20 days for banks will be better, I will prefer to pick banks and financial institutions at better rates before 10-12-2021.

Today market may show some recovery from lower levels, because of indications from foreign market. IT with communication and space related segments may give movements during the day.

E-commerce, leaf-based, oil exploration companies, FMCG, textiles, Agriculture produces, inflation is still high, which may be affecting purchasing power of common man, and hurt the sentiment of buying in the market, for long run this is not good. I will again look forward for leather, paper, chemicals, pharmaceuticals, pathological laboratories, health care, power, automobile, automobile ancillaries, container manufacturing/marketing/supply, logistics, pesticides, and many more may remain active.

Nifty may look for 17025 or better to say +100 points.

Indian Currency

Indian Rupee may trade in between 74.80 to 75.70 per USD.

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