Nifty Prediction : Buy on dips and sell on rise | Stop-loss at 17500 & 17200 better
Daily Forecast – Share Market – August 30th, 2022
Stop-loss at 17500 and 17200 better | Buy on dips and sell on rise
Tomorrow stock market will not be working due to Shri Ganesh Chaturthi. So, today is last working day, before weekly expiry. Hence, trade in the market may give indications for the same also.
Moon leads the day, well supported by Sun, Mars, Jupiter (Retrograde), Saturn (retrograde), Mercury, Ketu and Venus. Foreign cues may not be so attractive, but due to planetary position and support from IT, communication, logistics related segment may give support to the market along with the lord of share market’s support to own house.
I firmly believe that market may show gap-up opening or buying from lower levels can be seen during the day. But due to some or other reasons, possibly some trimming can be seen during the day. Crude may remain harsh for the global sentiments, including Europe, entire world is facing energy crises.
Still, ager or ego issues among nations are ready disturb the sentiment of environment, employment and economical balancing. Alternate solution needed to encounter crude oil monopoly. The same is disturbing economy nations.
Today, market may show recovery from lower levels, although tomorrow is holiday for the market. Asian market may remain active and supportive the local market along with planetary support.
Companies like banks, IT, communication, logistics, travels and tourism, chemicals, power, automobile, automobile ancillary, batteries, EVs related segments, alternate energy related segments, defence, oil exploration companies, insurance, laboratories, chemicals, cement, infrastructure, metals, and many more segments including dairy, rubber and many more may remain active.
Selling on rise will not be surprise. Market is moving in the range for a while, because lord of the market is protecting own house and sign. Nifty may look for 17500. But wait, if nifty breaches 100 points of nifty from the previous closing, then negativity is possible due to tomorrow’s holiday. Stop-loss at 17500 (as and when required to sell) and stop-loss at 17200 will be better.
Indian Rupee may trade in between 79.30 to 80.20 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