Daily Forecast – Share Market – July 11th, 2022

Nifty may trade within Range 16300-16150 | Wait n move

Mars with Jupiter is leading the day, well supported by Sun, Saturn, Mercury, Rahu and Ketu. In fact planetary position wise this can be a comfortable day, but impact of foreign lands, foreign cues, news from government of India and foreign nations may give impact on the market. Importantly Moon is forming good relation with lagna lord Venus and Saturn which is retrograde and ready to slip in Capricorn sign. Giving local support, but issues from foreign market like US may give impact like consolidation.

Indications from foreign market may be bit shaky, Crude is under control in comparison to previous period. Fear of recession or dip in the market is also giving impact on crude oil prices, secondly demand in China is also importantly playing role for the crude oil prices. Now, price war can also be to check/hit Russia. So, period for crude prices is in favour of India.

Nifty may look for 16300 and in the range of 16100. Point of concern will be INR. Regularly is under pressure. Inflation is on the upper side. To check inflation, government is checking imports, which may give impact otherwise (chances).

Nifty may show Mixed days. Impact from foreign market like US may give some pressure also.

It will be better to say, Job data from US gave better direction, but Inflation data is expected. US, banks may show some impact, but in India we may see movements in Indian banks, possibly in better direction.

Areas like automobile, banks, financial institutions, power, energy, petroleum marketing companies, insurance, engineering, IT, communication, automobile tyres, paints, cement, infrastructure related segment, electronics and electrical, chemicals, gases, research and laboratories (pathology), alcohol, cotton, communication instruments and network, and many more.

Keep a watch on results of companies for the first quarter of various companies.

Mixed day. Consolidation possible. Nifty may trade in the range of 16150 – 16300. Wait for initial hour and then move.

Indian Currency

Indian Rupee may trade in between 78.70 to 79.60 per USD.

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