Daily Forecast – Share Market – July 5th, 2023

Is Baar Nifty 19500 ke Paas ! Base formation possible

Rahu with Ketu is still holding the key for the day, well supported by Mercury, Venus, Jupiter and Moon. Regularly, market is heading for upper levels. We may not be much affected with the foreign cues. Undoubtedly, foreign cues cannot be ignored, but our own support may remain better. Market may face some challenges for the upper-level resistance, on such points Nifty may show some profit bookings. Banks may again remain better, but some profit bookings also possible.

Crude may still maintain around 75 USD or so, INR may also remain around 82 per USD.

Inflation may remain on higher side, especially vegetables, agriculture produces. Tomorrow will be weekly expiry, plan accordingly. IT may show some improvements, with Logistics, space, and many more in such areas.

Areas like automobile, automobile ancillaries, tyres, battery, EVs, Gas marketing companies, petroleum marketing, Pharmaceuticals, health care, insurance (in coming period), look for opportunities in Banks and financial institutions (although levels are on upper levels), chemicals, power, cement, ceramics, and many more with alcohol, non-traditional, green energy, with many more segments.

Mid-caps and small caps (please keep a watch).

Nifty may look for 19500. Banks and IT are better.

Indian Currency

Indian Rupee may trade in between 81.70 to 82.60 per USD.

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