Daily Forecast – Share Market – August 29th, 2023

Positive emotions possible | Nifty movements within 100 points

Watch with interest Banks and Financial Institution

Ketu with Venus (retrograde) leads the day, well supported by Sun, Moon, Mars, Rahu and Mercury (Rx). Local issues and cues with foreign cues may remain better since past working days. We may see some recovery from lower levels in the market.

Many planets are active, despite of retrograde three planets. Sudden changes or some situation under adverse condition may be seen during the day or in coming period.

Nifty may try to move around 100 points. Crude is again roaming around 84-85 USD. INR may roam around 82.50-82.75 against USD. Remember, sudden changes possible. Financial settlement will be seen today. Watch news from Central government.

It will be better to trade on technical basis, reason is technical planets are transiting strongly than the other ways. Reason is Venus and Mercury with Saturn are retrograde. Whereas Technical planets are strong (Ketu gives detailing like language – including grammar – which can be technical in details) and will be supporting technical leads/direction. News based may give impact but based on technical trading for the day will be better.

Midcaps and small caps may be doing better. Indexes are also in better emotions (technically). Many segments will be showing movements, but range bound movements for the indexes can be seen. Key player Reliance and financial institutions/Banks may play important role during the day. Watch defence and space related segments with care and look for opportunities for long investments.

Nifty may trade withing 100 points range, trade wisely.

Indian Currency

Indian Rupee may trade in between 82.30 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.