Daily Forecast – Share Market – March 8th, 2022

Pressure possible | Global cues and geo-political situation tough

Sun, Jupiter and Mars are controlling the day. Lord of horoscope is defeated in planetary war with the lord of foreign lands. Indications are clear that impact of Geo-political and other issues from foreign lands will be affecting the market. This is also fact that local political news may support the market. It will be better to take necessary precautions during the day.

Election exit poll news may support the market at the time of opening. But during the day, news from Ukraine Russia war may impact the market or better to say – Geo-political situation will be tough for the market. Currency (INR) is further feeling pressure and may cross 77 levels against USD.

Difficult period for the trading. Even Put situation will also be tough to comment. Nifty may look/breach for 15500 in coming period. Reason will be crude oil prices, which may affect economy of nation, companies etc.

Chances for Metals, IT, Oil exploration companies with communication and infrastructure will be better during the period. Electronic with chip manufacturing or alternate energy will be decent for the coming period.

I will watch with care to Paints, automobile tyres, and others based on petroleum based segments like synthetic based.

Chemicals, pharmaceuticals may show betterment in coming period. Paper and leather will be better in coming period. Keep a watch on space and related segments in coming period. Banks still bit low, keep a watch on banks and try to pick at better rates.

Trade with care. Nifty may show again tough day for the market due to Geo-political (Ukraine-Russia crises).

Indian Currency

Indian Rupee may trade in between 76.80 to 77.60 per USD.

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