Daily Forecast – Share Market – July 25th, 2024
Nifty may test 24300 | Buy on dips but pressure possible
Jupiter, Moon with Saturn are leading the day, well supported by Sun, Mercury and Ketu. Indications for the day, possibly some movements in various sectors can be seen for a few days. Foreign cues and news, with local political news may give impact on the market. Keep a close watch.
This market deserves a sizable dip in the coming period, because after March, has given a big runup. Undoubtedly, planets will also be helping for shrug off weight of such runup or may like to feel fresh for new movements.
INR may be losing its base and looking for 84 against USD. Crude oil may further indicate for the lowering trend for a while. Possibly may remain 81 USD.
Movements in many segments. It will be better to look for opportunities in defense, IT, FMCG, infrastructure, logistics, aviation, textiles, leather with Pharmaceuticals.
Sell on upper levels. Nifty may test 84300. Or may also show further pressure. I had already mentioned in my previous posts that according to the planetary position, middle class may further be trapped in the budget. They are losing their expenditure capacity. During past four years, their savings has reduced like anything. That’s why banks are facing deposits crunch or pressure on deposits, which may affect the banking sector in coming years (if reports during the coming period will be based on facts).
Enjoy the day, with stoploss.
Political differences may further because of concern for the national politics. Keep a watch during the week.
Nifty may test 24300. Pressure on upper levels not surprising. Again, buy on dips and pressure on upper levels. Casual traders, protect your funds by waiting for some time.
Indian Currency
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