Daily Forecast – Share Market – July 4th, 2023

Nifty may look for 19400 | Positive emotions | Consolidation expected shortly

Rahu with Ketu leads the day, well supported by Sun, Jupiter, Mercury and Venus. Global cues may not be supportive, but our own movements and data may be better. Whereas Production data of globe is not supportive. This type of data is not good for the economy.

Nifty may again trade with positive mood, despite of foreign cues. That means buy on dips will be better for the period. Nifty may look for another +75 points from the previous levels. I believe that Nifty may be planning for 19500.

Banks, Automobile, IT, and Liquidity in the market is also indicating positive.

It will be wise to be watchful for consolidation in coming period (if it happens – will not be surprising). Rahu has given great runup to the market during its leading positions. Stop loss around -75 Points of Nifty’s previous close will be better for the health of Profit.

Sensex is also rising. Crude oil is maintaining its level around 75 USD. INR may remain around 82 against USD. Gold may show some gains from previous levels.

Areas like banks, automobile, IT, space, defence, Petroleum, FMCG, chemicals, infrastructure, cement, reality, Power and many more with aviation, logistics, automobile tyres, along with alcohol, communication + music instruments etc. Look for opportunities on dips.

Nifty may look for + 75 points from previous closing levels. Stop-loss important at (-) 75 points of Nifty.

Indian Currency

Indian Rupee may trade in between 81.70 to 82.50 per USD.

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