Daily Forecast – Share Market – August 11th, 2023

Nifty may take cues from results and foreign market | Stoploss at 19500

Venus (Rx), Mercury with Mars are leading the day, well supported by Rahu and Ketu. Foreign cues may be better than the local cues, and market may try to pick the cues from foreign market. Inflation in US (as mentioned in their data, not increased, whereas China’s inflation data indicated in Negative side (deflation).

That means our market after running so hard in last month – may further try to look for new indications or directions from various sources.

As on date, everyone in the market has confidence that coming general elections in 2024 (current government may return), but still time is on. I agree that all the indications are positive for the current government.

Remember 19500 of Nifty can be point for stop-loss. Market may get the support from IT and petroleum exploration, or one company, which gives single handedly life to the market (Reliance). Banks may not be much supportive.

Watch results from the local companies, which may give the impact on the market on date or in coming week.

IT, communication, logistics, automobile, power, real estate, automobile tyres, engineering, bearing, metals, electronics and electricals, entertainment, chemicals (watch), petroleum exploration, adhesive products, solvents, rubber, synthetic fabric, and cotton etc. may be giving thrust to the market. Watch insurance – especially LIC.

Crude is planning for 90 USD. INR is losing strength.

Nifty may be within range. Stoploss at 19500 will be better.

Indian Currency

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

Please like my Facebook page @ https://www.facebook.com/AnoopAstroSutra.

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