Daily Forecast – Share Market – September 5th, 2023

Buy in dips | Nifty may remain range bound (again) | Stop-loss Imp.

Venus is leading the during the day, well supported by Sun, Moon, Mars, Rahu, Ketu and Mercury (Rx). Again, three planets are transiting retrograde – Jupiter, Saturn and Mercury. Sudden favouring situation possible – under adverse situation.

Chinese market can be confusing at any stage of time. They may show different picture than the actual one. So, surprises possible from this end of the world.

Crude oil may remain around 90 USD. INR is maintaining levels close to 83 against USD.

It will be better to buy on dips. Nifty may look to cross 19600 or so. Stop-loss at 19500 will be better. Lord of share market and banks is now totally combusted. Hence support from this lord will not be possible for the day.

Range may not be big during the day (because of share market’s lord is in combustion state).

Areas like automobile, oil companies, IT, entertainment, space, logistics, rubber, chemicals, dairy products, leaf based segments, coffee, edible products, sugar, alcohol, fashion, electrical and electronics, metals, insurance, shipping, pharmaceuticals, healthcare etc. and many more may remain active during the day.

Buy on dips will be better for the period/day. Nifty may be within range of 19500 to 19600 or so.

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.