Daily Forecast – Share Market – July 31st, 2023

Nifty may show movements (+/-) 100 points | Buy on dips Or if is stable on upper

Venus (Rx) with Ketu leads the day, well supported by Mars, Rahu and Saturn (Rx). Importantly, Venus and Saturn are transiting retrograde. Political issues may be high than the national issues like peace, inflation and flood effected areas.

Even then, we may see buying from lower levels, Nifty may try to recover from lower levels. Energy at higher prices, which influences cost of production, hence we are getting higher priced products. Vegetables or agriculture produces are on higher prices, and even then, rural areas are not benefited much or accordingly. They are facing tough situation, that’s why central government is bound to give quarterly transfer of money.

Even then Nifty is holding important levels and may try to pick from lower and look for another + 100 points or so. But it will be better to trade with strict stop loss, because of transit of two important retrograde planets.

INR is getting weak against USD, and Crude oil may maintain around 85 USD. Watch FIIs with care. Because this may affect the market at any moment. Result oriented week, so market will be accordingly.

Many areas may remain active. Watch automobile, metals related areas, automobile tyres, automobile batteries including EV related also, watch wind energy. Global news (especially from China) will be important. Now, nations are thinking to focus on planning to increase demand in the market. In India, inflation related to edible is high, which may affect the demand. Secondly, various parts of nation are hurt because of floods.

Institutional approach will be key during the day, which may hurt the movements during the day.

Health related segments may remain active. Nifty may look for + 100, but stoploss at – 100 points of Nifty from previous close.

Indian Currency

Indian Rupee may trade in between 81.90 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.