Daily Forecast – Share Market – September 1st, 2023

Nifty may test 19200 and range 19400 | Still Sell on rise better

Venus is leading the day, well supported by Sun, Mars, Rahu, Jupiter, Mercury, and Ketu. Foreign cues will be important throughout the day. Reason is lord of lagna is slowing down its speed for us, because from 04-09-2023. So, data from government may be announced but will this give its impact on the market – may be just for a short period.

Market may show some emotions of pause or tiredness is clearly visible during the week. I believe today again lazy movements; reason is again retrograde planets and Jupiter is slowing down its speed because its motion will be changing and start retrograde transit.

Volatility or ups and downs will not be a surprise for me. Crude oil prices may be responding to the production cut and may look for 90 USD. Demand in the market is not rising. So, prices of crude may not be rising so rapidly.

As mentioned in my yesterday’s post that GDP growth percentage is rising but per capita is not improving. Hence, rising of share market is taking rest at this point. Otherwise should have moved to 25000 of Nifty levels. Even then chances of wildness in this month may be seen because of planetary movements.

Banks – another segment, which may help decide the direction of market. Another sector is waiting – I mean IT, which is close to show its muscles in coming period. Defence, automobile and chemicals with Pharmaceuticals are always supporting the market, watch automobile tyres with batteries, sugar and its products etc. may be key player along with wind energy.

Nifty may be withing range of 19200 (may test) to 19400.

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.