Daily Forecast – Share Market – August 9th, 2023

Nifty may look for 19650 | Stoploss @ 19500 | Volatility expected

Venus with Mercury leads the day, well supported by Sun, Mars, Rahu and Ketu. Despite of active (entire) horoscope, because of its ascendant lord, market may remain within range and not many movements on either side. Foreign cues may remain active.

US banks/economy may be cause of concern. Similarly, China is again not in happy position (Economically). Their position economy and cash flow position.

Local companies may give impact on our market, so be watchful on results, which may give impact on the market. Nifty may show movements from lower levels, I mean, chances of buying from lower levels, despite of chances of volatility.

Look for opportunities at lower levels. Watch coal or energy related segments. Coal may be better. Banks and financial institutions may remain interesting along with Pharmaceuticals, logistics, automobile, energy, power, watch fashion with care, defence, metals, products coming from earth, and many more may remain active on either side. Because of Volatility (chances).

Stoploss at 19500 will be better, before going for long wait, allow market to settle down. Crude oil may remain within the range of 86-87 USD.

Indian Currency

Indian Rupee may trade in between 82.10 to 83.00 per USD.

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