Daily Forecast – Share Market – August 10th, 2023

Stop-loss at 19475 | Look for opportunities

Planning for Long Trade after 2 hours (if required) will be better

Venus (retrograde and falling) with Mercury leads the day, well supported by Moon, Mars, Rahu and Ketu. Indications are that market may show recovery for the levels or some positive movements in the market despite of weak Lord of horoscope, nation and political issues.

Possibly Nifty may plan to recover from lower. But due to some planetary movements my suggestions will be – do not trade without stoploss, foreign cues may also be not supportive. News from government agencies may give some impact in the early hours and then after one and half hour changes in the market can be seen. Initial pressure will not be surprising.

Crude may look for 90 USD in coming period. At the same time INR may show weakness in the due period. Energy is again point of concern – this may further give impact on the global economy and inflation.

Power may also be affected due to energy prices in coming period, along with the load of advantages passed on due to political reasons – may further give impact on power.

Impact of Weekly expiry can be seen during the day. Banks will be important for the day.

Logistics, aviation, IT (look for lower levels – small and mid-caps), Watch with care leather, textiles and paper along with pharmaceuticals, healthcare and insurance, it will be better to trade after the news from RBI, petroleum exploration, coal, infrastructure, reality, chemicals, rubber, communication, entertainment etc. may remain active with so many other segments.

Stop-loss at 19475 will be good. Trade with care, look for opportunities. Trade after one and half hour (for long).

Indian Currency

Indian Rupee may trade in between 82.30 to 83.10 per USD.

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