Daily Forecast – Share Market – September 6th, 2023

Nifty range 19500-19625 | Buy on dips and sell as n when required

Venus with Moon leads the day, well supported by Sun, Mars, Rahu, Ketu and Mercury (Retrograde and combust). USD is gaining strength, or I can say that INR is losing its position. May cross the levels of 83.25 against USD. Crude oil production cut has started giving its impact on the prices and may look for 95 USD in coming period.

Geo-business situations and crude with currency is also not supporting the trading situation but as Rahu is active, so mysteriously our Indexes are rising. I must say that situation is – take strong guards, because global indications are not comfortable and crude oil will be increasing inflation – even in our nation.

Bonds yields in US is getting strength. It will be better to buy on dips but strict stop-loss or sell on pre-decided levels.

Companies like defence will be active, they may be giving advantage in coming years. Buy on dips for long period of time.

Market may remain within close range – may be bit positive for the day. Volatility is also possible at any point of time. Importantly – lord of hare market and banks are totally combust. So, no support from the lord.

Keep a watch on oil exploration companies, banks, financial institutions, IT, communication, aviation (pressure possible due to crude oil), logistics, space, power, infrastructure, automobile, automobile tyres (impact of crude oil possible), defence, defence related shipping/aviation/drone and chemicals, alcohol, fashion, government may give thrust to something, which may give impact in coming period.

Nifty may remain withing range of 19500-19625.

Indian Currency

Indian Rupee may trade in between 83.00 to 83.60 per USD.

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