Daily Forecast – Share Market – September 8th, 2023

Foreign cues are Key | Sudden changes possible 

Long term investments better

Venus, Mars with Rahu are leading the day, well supported by Moon, Mercury and Ketu. Changes after lunch hours are possible in the market mood. Global cues will be influential at the early hours of the market (as it was on previous working day). Possibility of global cues may not be comfortable. Which may give other chances to buy on dips. But range of the market may not be much, even then indicating that after Lunch sudden rise possible.

Wild wave may give direction for the upper levels in coming period. So, be prepared. Possibility of planning for 19850 can be seen during the day.

Despite of weak global economic situations, confrontation of China with various nations, Indian market is facing inflation and gap of GDP vs per capita income. Or unemployment, this trading market is rising with surprises. Share market is looking for size of Indian economy, but if income will not rise accordingly, then at any stage sudden changes in the direction of the market will not be surprising.

But this is also fact that long term investments in proper stocks, may give big gains to the investors. Trading for common man may not be suitable, because of uncertainties in this market. Long term or MFs or SIPs may give good advantage to the investors.

Again, many segments are active, Rahu may give sudden movements in any of the direction. Keep a watch on defence, IT, communication, logistics, leaf-based, coffee, rubber, solvents, chemicals, acids, gas(es) including petroleum, oil exploration companies, fashion, alcohol, spirit, wine and related segments with sugar and byproducts, paints and many more may be showing movements.

Crude oil may show indications to move above 90 USD. INR is also getting weaker.

Nifty may look for 19800 or so but stop-loss will be important. Foreign cues may be playing important role during the day.

Indian Currency

Indian Rupee may trade in between 82.60 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.