Daily Forecast – Share Market – August 3rd, 2023

Sell on rise better | Stoploss will be better

Ketu, Venus with Mars are leading the day, well supported by Saturn and Rahu. Importantly, role of foreign cues and Rahu may increase during the day. So, chances of volatility are quite possible. US and China major players may affect the market during the coming periods also.

We can say that Profit bookings again. But period for watchful trades, Nifty after a great run, such Profit booking possible. This market has shown a great run of 2500 points of Nifty in short period (past). US is facing an issue of Finch rating.

Sell on rise will be better for a while or unless it holds the levels of above 200 points from previous closing. Hence, sell on rise.

Global scenario is not comfortable due to consumption. In India, our revenues were highly based on IT in past, now this segment is troubled for a while. This is also fact that Pharmacy is doing decently, now automobile and defence may be next segments at the international level.

Banks are always based on local financial strength. Changes we saw because of increase in bank accounts, but that situation may see stability, now industrial growth can be another reason for banks for further run. GDP is improving but per capita income … this is also important for the growing banks.

Nifty may show sell on rise. Stoploss will be better. INR is losing strength again, crude oil is again bit under pressure.

Indian Currency

Indian Rupee may trade in between 82.00 to 82.90 per USD.

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