Daily Forecast – Share Market – August 31st, 2023

Nifty within range | Mixed day possible

Rahu, Ketu with Venus (Retrograde) are leading the day, well supported by Sun, Mars and (retrograde) Mercury. Importantly, Jupiter is also slowing down speed for us, because will start transiting retrograde from 04-09-2023. Venus has also started slowing down its speed for us. Possibility of Mixed day. Foreign cues may also play some key role during the day.

Nifty may remain within range of 19300 to 19450. I believe that range may be less possibly 0.5% variation or less than this.

Inflation is still on the higher side, which may give impact on the market (commodity market). Contradictory to rising GDP Vs. unemployment is again cause of concern. Importantly per capita income is not as good as it should be reflected in rising GDP regularly or big size of economy. Nation has to feed more than 50% of population on free rationing basis.

Many segments may remain active. Keep a watch on Banks, which may give twist and turns to the coming period. Watch IT, because in coming period few companies may give positive indications. Major concern for India is weak employment in IT sector (in comparison to what they were aggressive during lockdown and afterwards.

Defence, space, space related instruments, communication instruments, wifi service, power, automobile, automobile tyres, automobile lubricants, batteries, EV, non-traditional segments, sugar and side products may give advantage to sugar mill segment, chemicals, healthcare, insurance, and many more may remain active.

Nifty may trade within the range of 19300 to 19400.

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.