Daily Forecast – Share Market – August 16th, 2024
Nifty may look for 24250 or so | Use cues from outside news | Stoploss Key
Moon, Ketu with Venus are leading the day, well supported by Mars, Jupiter and Saturn (Rx).This market may try to show recovery from lower levels.
Impact of big players may be seen in controlling the market. Possibly some foreign players as well as local giants. Keep a watch, and trade accordingly. Defensive movements on both sides will be better. The market is looking for some motivation. Even then buying from lower levels may be seen.
Coming Monday onwards. Planetary positions may be changing their positions and strengths. So, it will be better to take steps accordingly.
Market values may try to look for the values around 05-08-2024 (opening) – just chances.
These Utha Patak because of Hindenburg during the week. Will this continue in the coming period? Time will confirm. Some players may try to Protect the market and others may try to pull the market down. Despite all such activities, this market is trying to hold the levels above 24000 of Nifty. Now may try to look back for above 24250 or so.
It will be difficult to comment now. Key official persons related to the market must justify their position to build the market’s confidence. I am sure steps will be taken.
Traders must watch their working and funds (as and when required).
Nifty and banks Nifty – please use the trend for the day. Only foreign cues may be much acknowledged by the market – like US and China etc. Nifty may try to look for 24250 or so. Stoploss at 24050 of Nifty levels.
Indian Currency
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