Daily Forecast – Share Market – July 19th, 2022

Sell on upper levels | Look for Opportunities for a while

Saturn (Rx), Jupiter with Venus are leading the day, well supported by Mars and Rahu. Importantly, fallen planet Saturn is playing key role. INR is weak, crude may enjoy wave in its levels. Global cues are mixed. I feel that as mentioned previous report that profit booking is possible on upper levels.

In other words, Nifty may show some cool off on the levels. Trade accordingly. Importantly, China market is not so strong. Impacting steel and others. Leading IT has some issues. Or I can say that some issues can be seen in IT. It gave grate runup in past one and half year or so. So, Profit booking “BOOKING/COOL OFF banta hai”.

Russia has checked gas/crude supplies, which may affect the global crises for the energy.

Chances of buy on dips for the time being will be better. Look for opportunities in IT and decent banks. Nifty may plan for another chances to look for 16300 on the current levels and may also show 1% down from current levels. That means buying from lower to upper side of 16300 or so.

Areas for interest will be based on results of various companies (Qt. first).

Banks, IT, automobile, oil exploration, power, chemicals, be watchful for communication, metals, energy – coal and gas, insurance, pathology laboratories, keep a watch on pharmaceuticals, paper, leather, health care, health insurance, be watchful for automobile tyres, automobile and many more may show action on either side.

Nifty may show some pressure. Look for Opportunities for a while.

Indian Currency

Indian Rupee may trade in between 79.30 to 80.10 per USD.

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