Nifty Prediction : Consolidation/Profit Booking possible | Buy on dips
Daily Forecast – Share Market – August 12th, 2022
Consolidation or Profit booking not surprising | Buy on dip
Venus, Mars with Saturn (Rx) are leading the day, well supported by Mercury, Sun and Jupiter (Rx). It is fact that lord of foreign lands has come out of conjunction with Rahu, indication that impact from foreign cues for a while will not be much deceptive. But this does not mean that we have totally come out of shadow. Saturn will start transiting direct on October 22nd, 2022, then moves in Aquarius again in January 2023. Situation may be different after that. It will be better to enjoy for the current and be alert for the long.
Inflation data will be playing important role. Impact of Food prices may be seen in this data details.
Secondly, today is last working day before a long weekend. It will be better to be watchful before going for long weekend. I agree that emotions are positive, but issues from foreign lands will again be important in coming period also.
With some profit bookings and planning for Next ie. 17900 in the range, possibly Nifty may try for the same in coming period. Banks are better, from 21-08-2022, lord of share market will be in own house and sign, which may be protecting the market despite of various ups and downs.
Crude may again look for upper levels, despite of its lord is retrograde. So, I feel that in coming period again we may see fall in prices of crude.
Areas like crude oil exploration, automobile, travels and tourism, logistics, power, coal, energy, leather, sugar, metals, automobile ancillaries, textiles, cotton, electronics and electricals, food and edible, gas and petroleum etc. with many more segments will remain active.
Importantly, good news within short period is bit suspicious, reason is either inflation is dropping because of poor demands or some other reason. Trade before extended weekend. Trade with the chances of care, chances of profit bookings or consolidation is possible. Nifty may prepare for 17900 in coming period.
Indian Rupee may trade in between 79.00 to 79.90 per USD.
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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
Categories: Share Market