Daily Forecast – Share Market – July 12th, 2022

Nifty may try to hold 16000 | Recovery from lower possible

Jupiter, Mars with Ketu are leading the day, well supported by Saturn (Rx) and Venus. Importantly Saturn will be fall back in Capricorn sign at 14:40 Hrs (IST). Secondly, Moon is forming good relations with Sun and Mercury. Currency is again losing its strength, whereas crude oil is better than previous days.

Foreign cues are influencing heavily our market on date, crude may look for close to 105 or lower than this level. Inflation is key for the issues.

China is facing issues related to COVID and financial issues. Issues with Germany (energy crises) are important.

According to foreign issues, market may show some pressure, whereas other planetary positions may try to support the market even then due to major change in Saturn’s sign/house in the second half of the market, we may see some more fluctuation in the market. Keep a watch on Textiles due to cotton and currency prices (because textiles exports), engineering and other related segments.

Even then areas for banks, financial institutions, IT, power, infrastructure, chemicals, cotton, leather, automobile, and many more are the areas for focus. Banks is key for holding the levels, if banks will also face issues from foreign cues, then nifty may show pressure (further). Keep a watch on leather, and insurance with pathology laboratories and research areas.

Nifty may try to hold the levels of 16000. Pressure on upper levels possible due to foreign cues.

Indian Currency

Indian Rupee may trade in between 78.80 to 79.70 per USD.

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