Daily Forecast – Share Market – August 1st, 2022

Nifty may look for 17300 | Chances to buy on dip

Venus, Jupiter (retrograde) with Saturn (retrograde) are leading the day, well supported by Ketu and Mars. Foreign cues, local performances and restricted crude oil may be supporting the market. Whereas INR is trying to hold the levels within 79-80 against of USD. Indications are for positive opening and day may show some better performances. Nifty may look for 17300. Or better to say keep a stop loss of 17100 on the lower side and on upper side keep a watch on 17300 or around the same.

Planetary position – Importantly Jupiter has started transiting retrograde and Mercury has moved in Leo sign with Moon. I hope market may show some movements based on Quarterly performances. Foreign cues may be not bad.

Areas like FMCG, perfumes, sugar, textiles, leather, engineering goods, metals, agriculture related, Indications for Gold and silver may feel under pressure. It will be better to keep a watch on electronics, IT, communication, communication instruments, chemicals, leaf based and steel and other metals may be doing better. Overall performances of various companies will be influencing market.

Keep a watch on companies, enjoy the trend. Nifty may look for 17300. Move with the wave.

Indian Currency

Indian Rupee may trade in between 78.80 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.