Daily Forecast – Share Market – August 7th, 2024
Buy on dips / sell on rise possible | Nifty may look for 100 points
Moon with Ketu leads the day, well supported by Jupiter, Saturn (Rx) and Mercury (Rx). Importantly, Mars is with Jupiter, indicating impact of the foreign cues or conditions may have impact on the national system. Keep a watch. Possibly, our nation may have different types of feelings regarding handling this global situation.
Foreign cues may give positive indications, which may have an impact on the sentiments of the market. Even then, INR is inching towards 84 against USD.
Banks and financial institutions may be having an impact on the market. Keep a watch. Also watch before going for long (better to study the deposits Vs loans and balance sheet) watch with care.
Slightly upward moves, News from government and government agencies (banks etc.) may give impact on the market, buying from lower levels again possible. But trade with guards/stoploss/precautions.
Local pressure on weak infrastructure may again get some advantage but impact of natural calamities because of ignorance of issues by human may hurt in coming time again. This time Saturn is punishing from time to time. Time for a set of people is still awaited.
This may give impact in coming time. Lots of infrastructure work will be done during the financial year. This may give opportunities in the sector in the coming time. Watch with care.
Volatility is also possible. Buying from lower levels. Market may move because of expected news from government/government agencies on 08-08-2024. Cashflow may move towards emerging markets/China.
Indian Currency
Indian Rupee may trade in between 83.60 to 84.20 per USD.
** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
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