Daily Forecast – Share Market – August 2nd, 2022

Profit booking & buying from lower possible | Nifty may prepare for 17500

Venus, Jupiter (Rx) with Saturn (Rx) are leading the day, well supported by Mars, Sun and Ketu. Importantly, lord of foreign lands is involved in planetary war with Rahu. Indications from, foreign cues may be deceptive. I agree that lord of foreign lands is winner in planetary war. Impact from foreign lands, whereas impact of retrograde can be seen on crude oil, partially some pressure can be seen on crude oil prices.

INR is gaining strength. Impact on the market from foreign cues may be negative, whereas impact of results of various companies will also be important.

Profit booking on upper levels or consolidation can be seen. Nifty may prepare for further upper levels. Chances of preparation for 17500 of Nifty after profit bookings or consolidation is possible. Hence, buying from lower levels possible.

Keep a watch on FIIs. Hence, keep a watch on Banks, financial institutions etc. along with IT etc.

Oil exploration may show some pressure.

Movements in FMCG, power, energy, banks and financial institutions despite of profit bookings, defence, communication, e-commerce, automobile, lubricants, healthcare, automobile tyres, company wise automobile, logistic, entertainment, with many more are possible.

Nifty may show some profit bookings. Company wise movements will be better. Nifty may prepare for 17500 in coming period. Buying from lower possible.

Indian Currency

Indian Rupee may trade in between 78.30 to 79.10 per USD.

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