Daily Forecast – Share Market – August 2nd, 2023

Nifty may trade within Range (19600-19850) | Focus on Segments better

Ketu with Venus leads the day, well supported Moon, Mars, Rahu and Saturn (Rx). Actually, two important planets are transiting retrograde, which is hurting movements of the index. It will be better to react to the segments. Which may give advantage for the period.

Nifty is trading within range, whereas movements in various segments are indicating for the coming up movements. Reason is global issues are still troubling the market. Key of the Indian market – IT is still not giving any charge (Large caps).

FIIs had sold their futures etc. Nifty may face some pressure on upper levels around 75 points on upper side. Opportunities may be below levels (if any dips). Nifty may look for 19600 (possibly).

Indirectly all the planets are active and indicating that entire horoscope is active, despite of retrograde Venus and Saturn. So, mixed results may be seen during the day.

Even then watch automobile, aviation related to defence, rail transport, logistics, power, reality, infrastructure, alcohol, spirit, glycol related segments, batteries, watch with care automobile tyres (they have better chance, because of poor buying of Chinese tyres), metals, dairy, tea, coffee, FMCG, textiles and leather (watch with care), paper, and many more segments may show movements in small and midcaps.

Banks and financial institutions may be playing key role during the day.

Nifty may remain within Range of 19600 to 19835.

Indian Currency

Indian Rupee may trade in between 81.80 to 82.70 per USD.

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