Daily Forecast – Share Market – July 4th, 2024

Nifty may look for 24400 | Are we heading for Risk

Global and local Political movements important

Moon with Jupiter leads the day, well supported by Mars, Rahu, Mercury, Saturn (Rx) and Venus. Indications are clear that keep a watch cues from foreign market/Geo-political situation, local government’s indication and news from the message of leader of council of ministers.

Working of the government and pressure on the government may also be possible, difficult to say the reason (may be political, or partners or anything else), keep a watch on the market and news. This may have impact on the market.

Impact of work quality of infrastructure has already dented the rosiness of the VIKAS. Let us hope some better things, possibly we may miss such things during the rainy season.

Punishment from god and Nayadhikari or dandadhikari may be seen during the period of 139 days. So, it will be better for us to trade on news and movement basis with strict stoploss.

Nifty may be deceptive in the coming period also. Trade with strict stoploss. Banks may show some movements, possibly may give some opportunities to pick at better rates (incoming period). Automobile may remain silent or better to say, wait for the turn. Iron and steel with minerals – trade with care.

Banks, financial institutions, with textiles, leather, IT (mid-caps), logistics, tours and travels, space, entertainment, fashion, FMCG, insurance, oil marketing and exploration, non-traditional, rubber and rubber-based segments, synthetic fabric based segments may also remain active and interesting. Keep a watch and avail advantage.

Crude may show some rise and remain around 86-90 USD.

Nifty may move another 125 points or so. That means Nifty may look for 24400 or so.

Indian Currency

Indian Rupee may trade in between 83.20 to 83.80 per USD.

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