Nifty Prediction : Buy on dips and sell on rise | Nifty may look for 100 points or so.

Daily Forecast – Share Market – July 11th, 2023

Buy on dips and sell on rise | Nifty may look for 100 points or so.

Ketu is leading the day and well supported Mars, Rahu, Jupiter, Saturn with Venus. Global cues may remain better than the previous day. Planetary indications for the day, is again better, and Ketu may support to show some rise in the levels. Nifty may show movements of 100 points for the upper levels. That means may look for 19450 or so.

Food inflation is high, may be because of heavy rains. Possibly high transportation cost because of higher prices of fuel. This is fact that petroleum oil plays important role for the inflation. It increases cost of transportation, many products are based on petroleum products based. Fuel charges / energy charges are playing key role for running cost of manufacturing cost, this also increases cost of factory/production house running/ office cost running or better to say increases handling charges also.

Whereas income of middle-class community – which is main consumer of produced products of many segments. Hence, in coming period, this may affect the demand again. For middle-class cost of house support staff has also gone up, cooking charges are increased (due to gas).

Whereas Chinese may show fall in demand in comparison to production, because of foreign dip in demand continued. Moon is not placed comfortable position – so, despite of rise in the market, but market may show some breathing movements also.

Almost all the segments are active, but banks and IT needs a watchful movement. Buy on dips will be better.

Areas like automobile, automobile tyres, cement, reality and infrastructure, power, communication instruments, textiles, leather, FMCG, fashion, sanitary fittings, defence, space, logistics, chemicals, alcohol, and many more may remain active.

Crude oil may remain within the range of 76-80 USD. Whereas Diesel and Petrol rates in India are also around the same prevailing rates.

Trade for buy on dips and sell on rise as and when required (for intraday traders). Nity may look for 100 points.

Indian Currency

Indian Rupee may trade in between 82.10 to 82.80 per USD.

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

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