Daily Forecast – Share Market – August 23rd, 2024
Nifty may hold levels around 24850 | Stoploss at 24750 better
Mars with Mercury (retrograde and fallen planet) leads the day, well supported by Sun, Moon, Jupiter, Saturn (Rx) and Ketu.
Remember Indian political activities are raising the temperature
Foreign cues are playing their key role in the market, although lord of share market and banks is important, but is fallen planet and preparing for getting the strength. But today may not be in a position to give the best of its support to the market – means local issues may be important but foreign cues may be giving its own impact. Yes, if any judiciary or related to any agency related (including Economy related or market related) issue develops – do not avoid, keep a watch.
Nifty may show some confusion. Cues from foreign market may remain negative, but local players are trying to hold the levels, possibly they intend to give some message to unknown persons (it may not be related with the strength of market).
Shipping, suddenness in the market, with textiles, leather, pharmaceuticals and paper etc. may remain active with cotton, chemical etc.
Watch the trading GAME with care. Consumption in the market is not good. Nifty may try to hold the levels around previous close ie. 24850 and stoploss around 24750 would be better.
Crude may remain around 75-79 USD. INR is losing its base and may look for 84 per USD in coming days.
Indian Currency
Indian Rupee may trade in between 83.70 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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