Daily Forecast – Share Market – July 18th, 2024
Watch movements / Political news | Trimming on upper levels – buy on dips
Moon, Jupiter, Mercury and Saturn (Rx) are leading the day, well supported by Sun. Importantly, Sun has moved in the house of IT, logistics, aviation, communication and many more.
Communication had already enjoying the benefits of price rise in the first week of July. This is one indication that in future again we may see the same way of Monopoly trade practice of the communication operator, because we all are compelled to maintain the mobile network because of Otp and other communication by banks.
Government rules are forcing us to have mobile. So, operators are having upper hand. Government had already indicated that for any other player it cannot be even playing field.
Banks, IT logistics, Pharmaceuticals, sea related, this may include oil exploration companies, FMCG, dairy products, automobile tyres etc. may remain positive. Telecom may be playing some important role. A news from the market may give some direction to the telecom segment.
It will be better to watch Petroleum and railways related news. Government has these two sectors from where they can ensure their earnings. Infrastructure may further show boost in the coming budget.
Nifty may try to hold the levels around 24550 and look for 14675 or probably 24700.
Crude may be maintaining around 85-87 USD. Foreign cues from US may remain better. Keep a watch on bond yield (US), which may give impact on our market also.
Trimming on upper levels possible.
Indian Currency
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** Before investing or trading, check the technical aspects as well, which is a reading based on planetary movements
