Nifty Prediction : Range bound trade possible | Watch announcements from Govt. etc.

Daily Forecast – Share Market – August 3rd, 2022

Range bound trade possible | Watch announcements from Govt. etc.

Geo-political movements Important in coming period

Venus, Jupiter (Rx) and Saturn (Rx) are leading the day, well supported by Moon, Mars and Ketu. Indications are that our own performances will be important, but this does not means that we should ignore geo political issues. I agree that mahadasha lord of China is not very supportive for them. I believe that China may play in a way that their upcoming elections should be in favour of the ruling group.

Tension may be seen during the period but market is also watchful, because their internal financial reasons. COVID and other issues are disturbing for them, it will not be possible for China to involve in large scale force escalation. Dashas may not be much supportive because of financial issues. We must wait and watch till October. Transit of Saturn will punish if China escalates any muscle power. Reason is Saturn is lord of their ascendant and finance.

Anyways, for us market is not bad. Local government news and banks will be important for the coming period. Momentum for our market is not bad. I agree that diesel may influence again cost of transportation and manufacturing etc.

Keep a watch on quarterly performances of various companies, including electrical and electronics, chemicals, sugar, textiles, leather, IT, power, automobile, automobile ancillaries, automobile tyres, batteries, chemicals, pharmaceuticals and alcohol, communication instruments, e-commerce, banks and financial institutions etc.

Market may show some deceptive moves, as previous day Zomato has shown deceptive moves. It will be better – before going for long in companies. Read properly financials and their other details. Gensets and other non-traditional energy systems will be better.

Nifty may trade within range of 17450 to 17250. Trade with stop-loss. Keep a watch on geo-political movements. Deceptive moves possible.

Indian Currency

Indian Rupee may trade in between 78.20 to 79.00 per USD.

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

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