Daily Forecast – Share Market – August 4th, 2022

Nifty may look for 17500 | Is Nifty planning for 17700?

Mars, Venus with Jupiter (Rx) are leading the day, well supported by Mercury, Ketu and retrograde Saturn. Global cues are positive. Indications for the better performances. Crude oil rates may be supportive. Nifty may give better movements on weekly expiry day.

Time for some dieses related issues may increase till January 2023.

Keep a watch on news from banks and related organizations. Which may give direction for the day in the market. I feel that Nifty may look for 17500. Local companies may give better performances. Electronic payment system related segments may show some better performances.

I believe that time for buying from lower can be seen in coming period, despite of fear of economic or geo-political disturbances. Nifty may look for 17700 in coming period (this will not surprise me.)

Banks and financial institutions may be supportive for the market.

Buy on dips. Chances are better. We may say that market may show pull back.

Areas like petroleum marketing companies, banks, automobile, travels and tourism, Gas and automobile, automobile tyres, paints, power, transport and logistics, IT, communication, media, communication instruments, electronics and electrical, adhesive, cement, infrastructure, metals, chemicals, sugar, FMCG and many more may remain active along leading giant companies.

Nifty may prepare for 17700 for the coming period. On date nifty may look for 17500 with ups and downs.

Indian Currency

Indian Rupee may trade in between 78.50 to 79.30 per USD.

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