Daily Forecast – Share Market – September 7th, 2023

Wait n Watch for first hour | Midcaps and small caps interesting

Watch foreign cues | Nifty range 19500-19675

Venus, Mars with Moon are leading the day, well supported by Rahu, Ketu and Mercury (combust and retrograde). Importantly, lord of infrastructure, automobile, reality and political issues may be affecting or influencing lord of share market and banks. Global situation is not able to give decent support to our market.

Nifty may roam around previous days closing. But pressure on early stage will not be surprising. Importantly, after one hour of opening of market – impact of foreign cues will be very important for our market.

Secondly, globally profit bookings is possible, impact can be seen in the local market in coming period.

Crude oil is moving ahead and may remain within the range of 90-95 USD. INR is also above 83 per USD. Bonds yield is another point of concern in US market.

FIIs are another cause of concern. Nifty may try to hold 19600. Wait and allow the market to settle down at least for first hour of opening of the market.

Many segments will remain active. Midcaps and small caps may again show movements. It will be better to look for advantage in mid-caps and small caps. IT, communication, space, defence, logistics (all modes), automobile tyres, automobile, infrastructure, reality, alcohol, non-traditional, travelling related, hotels, restaurants, fast food and many more may remain active during the day with fashion etc.

Nifty may remain within range of 19500 to 19675. Wait and watch for first hour of the market session then enter.

Indian Currency

Indian Rupee may trade in between 82.70 to 83.50 per USD.

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