Daily Forecast – Share Market – August 5th, 2022

Nifty may show Volatility | Buy on dips and sell on upper | Wait n Watch

Jupiter (Rx) with Venus leads the day, well supported by Mercury, Mars, Saturn (Rx), Rahu and Ketu. Foreign cues (geo-political issues), war like situations, health issues, inflation, unemployment and many other issues like food and energy crises through out the globe, may give impact on the market despite of local positive emotions.

INR is showing volatile performance. Performance of the companies may give their movements. Crude is under $ 95.

Importantly market is trying to recover from lower levels despite of China and Taiwan issue. Even then planetary position is comfortable, and volatility due to Rahu and Ketu + RBI’s announcement related to credit policy and news from UK – threat that recession from December 2022 may be seen for another one and half year (news from UK’s central bank).

Remember, long term investors must be watchful. Today, it’s a last working day for the weekend. Nifty may show buying from lower levels. Remember, bulls are trying to pull the market for 17700 levels. Hence, stop-loss on either side, buy at lower levels. Wait and watch, then buy and sell on upper (as and when required).

Areas like IT, banks, financial institutions, automobile, power, chemicals, petroleum marketing companies, electronics and electricals, alcohols, communication instruments, cotton, silk, threads, textiles, shipping, defence, insurance, fashion, and many more with chemicals and pharmaceuticals etc. may show movements.

Nifty may trade within range of 17300 to 17500. Wait and watch, then move. Remember, today is last working day of week. Geo-political issues may show some UTHA-PATAK in the coming period.

Indian Currency

Indian Rupee may trade in between 78.50 to 79.40 per USD.

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