Daily Forecast – Share Market – July 8th, 2022

Nifty may look for 16300 | For long wait and watch – Avoid

Mars with Jupiter is leading, well supported by Sun, Rahu, Ketu, and Saturn (Rx). Foreign cues are supportive and which is indicating that market may show again a positive moves. Crude is holding its levels. China is facing issues related COVID. Main positive signs are from US market may support the market.

Remember gas (petroleum) is showing rising of rates. Unemployment data is important from US market in the evening. Because unemployed peoples are increasing.

Nifty is now strongly pulling back and may try for 16300 levels. This is again not a period for long term investments. Fear is still not over, because globally, situation is not decent. Importantly, Mercury in own house and sign of banks is strong support for banks. Second support may be from IT segments.

Currency is weak. We are going for weekend.

EVs are picking up among the automobile manufacturer segments. This is important for the coming period. This Saturn is indicating for the same, otherwise next 30 years will be much tough. Remember 1991, the same Saturn forced us to look for new ways to enjoy the economic growth story. Similarly, new source of energy – if we can work on the same and then may show direction for the next 30 years.

Market is positive for the traders for the day.

Automobile, banks and financial institutions, chemicals, IT, edible, FMCG, pharmaceuticals, petroleum, gases (chemicals), steel, power, renewable energy, batteries, storage containers, communication, and many more segments may remain active.

Nifty seems 16300 and day for intraday traders (hard core). Casual traders trade with care. Market may open with positive note.

Indian Currency

Indian Rupee may trade in between 78.50 to 79.40 per USD.

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