Daily Forecast – Share Market – July 6th, 2022

Watch – Crude & Currency | Buy on low/Sell on rise possible

Sun with Rahu/Jupiter leads the day, well supported by Sun, Moon, Mars, Ketu and Saturn (Retrograde). Crude and currency are main player apart from other foreign and internal issues. Although Planetary situation is not bad, but importance of foreign cues and Saturn retrograde may be defining fear, and fluctuation in the market.

Market may again show some positive moment in the market, but fear of economic recession is on the cards. Saturn is ready to punish the world. Crises related to steps by government in past 6-7 years by various nations, impact was seen from 2019/20. Covid, lockdowns, unemployment, dip in demands, inflation, Russia-Ukraine crises, crude and other impacts are cause of concern for the globe.

Ascendant lord of China is retrograde and punishing for the deeds, for COVID and I will not be surprised if ‘Financial’ issues may trouble them. This does not mean that they will lose their position, but some pressure can be seen during this recession. Steel and related segments are affected due to China.

Political crises in England may also be cause of concern for European market.

It will be better to watch the market after 11:10 Hrs (IST), then decide your trade. Crude and other moves after this period may give indications for next 24 hours.

Nifty may show again some buying from lowers and selling on upper levels. That means Volatility is important. Even then Nifty may try to look for another 100 or 125 points on upper side. But be watchful on the upper levels. One move is possible so that many of big investors or traders can use the time for their recovery.

Areas for the automobile, batteries, importance of defence and alternate energy can not be ignored, textiles, agriculture related segments, transport, logistics, containers manufacturer, alcohol, sugar, glycol, banks and financial institutions, power, infrastructure, finance, and related segments, sea related segments, insurance and laboratories, with related segments.

Keep a watch on dairy products, FMCG, food related, e-commerce, IT, and entertainment, communication with communication instruments etc.

Nifty may look for upper levels, but selling on rise is also possible.

Indian Currency

Indian Rupee may trade in between 78.60 to 79.50 per USD.

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