Daily Forecast – Share Market – July 7th, 2023

Nifty may Plan to cross 19500 | Stop-loss/Profit bookings very Important

Rahu, Ketu with Jupiter are leading the day, well supported by Venus. Again, Rahu and Ketu are in force, indicating that our day may show another runup of Nifty or the market. Global scenario may not be supportive for the market. Our own reasons, liquidity in the market and other related issues (although many are negative) may be supporting during the day.

Initial indications may show pressure from foreign cues, but free and flowing movements from Rahu and Ketu are indicating further positive day despite of foreign negativity.

Importantly, Nifty has already crossed 19500, as it was mentioned in my post of few days’ back. Nifty will be preparing for the coming period and may further plan for next move.

Global cues and pressure for next week will be interesting. Reason is that cool off in US economy is not equivalent to the desired way. This indicates that any time mood of the market may show some watchful negative indications.

So, it will always be better to use stop-loss while approaching for the day. Yesterday, FIIs have played their role to improve the levels of Nifty. Suddenness of the market cannot be ignored. Nifty – stop-loss of 19400 will be important. Foreign cues may remain quite negative or not supportive.

Swing for 19600 will not be a surprise at the same time profit bookings also possible. I agree that we saw High tide, but changes after this tide – situation will always be normal and levels from tide will go back to the natural levels.

Watch FMCG, Banks, IT, reality, infrastructure, automobile, automobile tyres, oil exploration, oil companies, defence, space, cement, paints, batteries, alcohol, spirit, sugar, agro-products, exports and imports, power, logistics, and many more.

Country is preparing for next General election.

Nifty may swing for 19600 (chances), but don’t forget to impose stop-loss. Sudden moves may surprise the day on either side.

Currency is weak, and crude may move ahead of 76 USD.

Indian Currency

Indian Rupee may trade in between 82.40 to 83.00 per USD.

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