Daily Forecast – Share Market – August 7th, 2023

Sell on rise better | Banks – if required book Profit | Global cues Imp

Ketu with Venus (retrograde) will be leading the day, well supported by Mars, Rahu and Mercury. Importantly, lord of the lagna, means leader of the nation will be falling in Cancer sign from 10:56 Hrs (IST). Indicating that support from local issues and government or agencies may not be seen because lord of national horoscope is falling. But other planets like Ketu, foreign cues, suddenness/unexpected behaviour and lord of share market are active.

Petroleum/crude oil/energy prices may create further issues for inflation and others. Edible products may further create crises globally. INR may look weak against USD.

Overall indications for the market – Nifty may trade within the range of 100 points on either side. Chances of profit bookings at the level of 19600 or so. It will be better to play with guards. Banks may show some movements, which may help nifty. Watch IT, aviation, defence, foreign cues and logistics = including sea/water ways. Banks may also show profit bookings on upper levels (watch with care).

Crude may give impact on automobile tyres/paints and other products based on petroleum products, because in coming period crude oil may once again look for 90 USD.

Trade for within range. Sell on rise may be better strategy for the day or period.

Indian Currency

Indian Rupee may trade in between 82.10 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.